July 28, 2020 / 9:05 PM / 11 days ago

Victoria's Secret owner to cut 15% of its home office workforce

July 28 (Reuters) - L Brands Inc. said on Tuesday it was cutting 15% of its home office workforce, or about 850 associates, as the Victoria’s Secret owner restructures its operations to cut costs in the face of the COVID-19 pandemic.

The company also said it would deliver about $400 million in annualized cost cuts for Victoria’s Secret as part of its plan. (Reporting by Aditi Sebastian in Bengaluru; Editing by Anil D’Silva)

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