Fab, the New York-based e-commerce startup is in tougher days and the CEO, Jason Goldberg asked his employees to focus on job responsibilities and to “not be distracted by gossips”.
We all know that Fab, once a fabulous fashion online store, now shaking up its executive ranks. Amid of all these changes, Beth Ferreira, COO of Fab is leaving the company as per the source close to the firm.
CEO Jason Goldberg said in the internal email to all employees that he has presented a recovery plan to the Fab’s Board of Directors for 2014 to 2017 with narrower business focus, investment strategies, refreshed organization structure and revamped merchandising ideas – ultimately leading to the profitability of the company and also said that the plan was approved by the Board. He also said to reveal the plans and details in coming weeks and urged the staffs to focus o their current responsibilities.
With emotional touch, Goldberg said,
“I know that there are some rumors circulating now about the new org. It’s natural to speculate when you hear rumors. But I’d like to ask everyone to do what they can to resist the urge to participate in gossip. It’s a distraction at a time we need to be focused. I’m reiterating my request that you – to the best of your ability – focus on your job responsibilities during this holiday time, when each and every day counts.”
Fab has already cut more than 200 employees already starting from July 2013. Although it has opened the stores in Germany and UK, it already cut 10 employees and moved few jobs from London to Berlin. We expect these moving will stop in coming weeks and the company might rise back again with restructured organization – or it might file for the bankruptcy. Fab employees, don’t take it serious – focus on your job responsibilities.