Report: J.Crew Just Laid Off 10 Percent of Its Staff

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We've heard from a tipster that J.Crew has laid off 10 percent of the staff at its New York City headquarters today. It's believed cuts are being made across all divisions, including Madewell. Dismissed staffers are being asked to leave immediately and security guards are on hand to escort them out of the building.

We reached out to J.Crew for comment, and a spokesperson replied that while the company cannot confirm this, "we do have a press release coming out later today with some announcements."

As reported last week, J.Crew brand sales fell 5.2 percent to $508.7 million, and sales excluding newly opened stores fell 10 percent. The company has been struggling for some time, as constant promotions and complaints about a drop in quality have worn on sales.

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