ModCloth, the fashion retailer with $63.7 million in funding from some of Silicon Valley's biggest investors, has announced another round of layoffs. According to TechCrunch, "around 40 or 50" jobs were axed yesterday.
We're hearing that most of the San Francisco team has been affected, with a headcount of around 40 or 50 or so being let go, and possibly some cuts in other offices. According to multiple sources, layoffs were made across the engineering and product teams, and the social team is being scaled back this December. Some copywriters in San Francisco were cut along with the blogging team. The producer team is not being dismantled, but it is being relocated to Pittsburgh after the holiday season. Also, ModCloth's creative director is being let go.
This round follows the startup's July layoffs, when nearly 15 percent of the company was let go. TechCrunch reports that ModCloth is planning to downsize its workforce again in December after the company reaps "a 'multi-million dollar' profit" from the holidays.
This brings ModCloth's headcount, which was around 500 employees at the beginning of the summer, down below 390 employees. However, ModCloth's social media team still seems to have a job:
So, modcloth announces massive layoffs today. Then tweets "what are you wearing to work tomorrow?" Rude? Simple mistake?
— Candi Kenney (@candikenney) October 17, 2014