J.Crew Just Laid Off 250 People

The preppy brand is trying to alleviate its financial struggles. In the not-so-distant past, it was a retail darling. But after consecutive years of slumping sales, today's J.Crew is struggling to keep shoppers interested. On Tuesday, it announced a significant casualty of its ongoing financial challenges: the elimination of 250 full- and part-time jobs, mostly in its corporate headquarters. The layoffs should save J.Crew $30 million, counterbalancing the $10 million it expects to pay in severan...