L Brands Inc. said it plans to lay off about 850 corporate employees, or about 15% of the jobs at its home office, the latest restructuring at the embattled retail company. The company, which owns the Victoria’s Secret and Bath & Body Works chains, said it would save about $400 million a year from the layoffs and other cost-cutting measures, such as cutting back on inventory and closing stores.

Source: Wall Street Journal July 28, 2020 21:04 UTC