US Electric Company Fab will announce a new round of layoffs in Thursday

Absrtact: May 22 News, the U.S. Electric Company Fab will announce a new round of layoffs in Thursday, with 80 to 90 employees expected to be cut. The fab move is aimed at cutting costs and diverting resources to focus more on the design and development of private-label products. A new round of layoffs

May 22 News, the United States Electric Company Fab will announce a new round of layoffs in Thursday, is expected to be 80 to 90 employees will be cut.

The fab move is aimed at cutting costs and diverting resources to focus more on the design and development of private-label products.

A new round of layoffs will reduce fab global staff by another one-third, leaving only 200 employees. It is reported that the layoff plan in the cut targets are the company's New York headquarters staff. At present, Fab headquarters has about 120 to 150 employees.

Fab staff have been aware of the operation in Wednesday, according to BuzzFeed earlier reports. At that time, the company's human resources department sent them e-mails telling them that they would not have to go to the office in Thursday for further instructions.

During the peak hours, Fab had as many as 700 employees, but the company has made several rounds of layoffs in the past 10 months. Jason Goldberg, the company's chief executive, said a number of Jensen Goldberg were aimed at streamlining staffing and cutting spending to accommodate changes in the business model. In the future, the company will no longer use the labor-intensive flash-purchase model, to focus on inventory demand forecasts of the high standard of electrical business model.

"We have said goodbye to some of our most excellent employees, and we have only respect and gratitude for them." Fab spokesman Amy Juaristi said in a statement. "Readjust our team, which is part of a business plan that was launched last fall and will continue to be implemented in the next few weeks." Our recent initiative to launch our own brand and custom furniture has been a great success, and we are adjusting the team to continue our efforts in this direction. We have full confidence in this. ”

Earlier this week, Fab unveiled a series of High-profile private-label products, including sofas, dining tables, bedding and carpets. The company also opened a showroom near Manhattan's Soho area. Goldburg has previously said it is vital to invest in a free brand business to provide customers with products they cannot find elsewhere-most notably on Amazon sites.

Fab also said it will hold a job fair for Laid-off employees in June this year and will provide them with interview training and personalized return assistance.

Investors have injected more than 300 million dollars into the fab before downsizing and changing the business model. Last summer, the company's market value reached 1 billion dollars.