Le Tote, a fashion rental subscription service, laid off approximately 20% of its workforce in late 2022, affecting dozens of employees. The layoffs were part of a broader restructuring effort as the company, which had previously acquired the department store chain Lord & Taylor, faced significant financial challenges and a difficult retail environment. Operating in the e-commerce and fashion rental industry, Le Tote undertook these cuts to streamline operations and reduce costs amid shifting consumer behaviors and economic pressures.
