The company says the move is necessary to get REI closer to “sustainable, profitable growth.”
SUMNER, Wash. — A major local corporation announced plans to lay off over 400 employees in an elimination of a business division on Wednesday.
REI will be shuttering its “Experiences” division, which employed 180 full-time employees and 248 part-time guides. The division includes adventure travel, day tours and classes. CEO Eric Artz shared a message on the company’s website that had previously been sent out to all employees.
“I have an important update to share today. Earlier this morning we shared with our Experiences team that after a thorough review and careful consideration, I have made the difficult decision to exit the Experiences business altogether, effective this week,” Artz wrote.
“The reality is a thriving co-op requires a sustainable economic model that is capable of investing at the appropriate level to fully fund our most …