Pier 1 to reduce corporate workforce
Pier 1 Imports is making changes at headquarters.
The home décor and accessories retailer announced an organizational redesign of its corporate workforce “to better align its operations with its long-term strategy and enable the company to improve agility, reduce costs and reinvest in building core competencies.” The redesign will result in a net reduction of approximately 20 positions, including the filling of open positions and additional new hires Pier 1 expects to complete over the course of fiscal 2020. The reductions are not expected to impact Pier 1 stores or store associates.
The company said it established its new organizational structure based on industry benchmarks for each department, with changes including the elimination of certain roles, a realignment of responsibilities for some associates, new reporting structures and the creation of new positions.
“Our new organizational structure sets the right foundation for a series of steps we plan to take in the coming months across the areas of merchandising, marketing, margins and costs,” said Cheryl Bachelder, who has served as Pier 1’s Interim CEO since December and is and a member of its board. “This redesign organizes our leaders and associates around critical competencies and will enable us to reorient how we invest in our company to support the business over the long term.”
Management will discuss the organizational redesign and outline key priorities and its action plan during the upcoming fourth quarter and full year fiscal 2019 financial results conference call on April 17.
The home décor and accessories retailer announced an organizational redesign of its corporate workforce “to better align its operations with its long-term strategy and enable the company to improve agility, reduce costs and reinvest in building core competencies.” The redesign will result in a net reduction of approximately 20 positions, including the filling of open positions and additional new hires Pier 1 expects to complete over the course of fiscal 2020. The reductions are not expected to impact Pier 1 stores or store associates.
The company said it established its new organizational structure based on industry benchmarks for each department, with changes including the elimination of certain roles, a realignment of responsibilities for some associates, new reporting structures and the creation of new positions.
“Our new organizational structure sets the right foundation for a series of steps we plan to take in the coming months across the areas of merchandising, marketing, margins and costs,” said Cheryl Bachelder, who has served as Pier 1’s Interim CEO since December and is and a member of its board. “This redesign organizes our leaders and associates around critical competencies and will enable us to reorient how we invest in our company to support the business over the long term.”
Management will discuss the organizational redesign and outline key priorities and its action plan during the upcoming fourth quarter and full year fiscal 2019 financial results conference call on April 17.