Warby Parker, which pioneered the direct-to-consumer model for stylish eyewear under $100, announced job cuts to its staff on Monday, blaming an uncertain economic environment. The company said it eliminated 63 corporate positions. The roles represent 2% of Warby Parker’s total employees and 15% of its corporate staff. Warby Parker operates 169 retail stores in addition to its DTC business. As Warby Parker prepares to report its quarterly results Thursday, its stock price has dropped 70% so far this year.

Source: CNN August 10, 2022 12:46 UTC