Tag #Wellness Industry

What are the immediate consequences of Goop's recent layoffs, and how do they impact the company's overall strategy?

Goop, Gwyneth Paltrow's lifestyle company, recently laid off 6% of its workforce, impacting various departments including beauty, programming, engineering, and creative. This follows an earlier 18% reduction in September, indicating a strategic restructuring to focus on core areas like beauty and fashion. Despite these cuts, Goop reported year-over-year revenue growth in 2023 and projects continued growth in 2024, with specific increases in beauty (21%) and fashion (45%) revenue.