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In an effort to create a more streamlined business model, Limited Brands Inc. (NYSE: LTD) announced today that it will cut roughly 10% of its corporate staff. This move comes as the company is reducing its exposure in apparel sales to focus on two areas where it sees the brightest future: lingerie and beauty products.In addition to operating Express and Limited Stores, Limited Brands also operates Victoria's Secret and Bath & Body Works, and that is where they see the company moving in the future. According to Les Wexner, the company's chairman and chief executive, the company is looking to "streamline the company, enhance productivity and efficiency, and focus resources on the most promising growth opportunities".
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