Gwyneth Paltrow’s Goop wellness empire has implemented a second round of layoffs in just two months.
The cuts made in late October represent around 15 people, equivalent to less than 6 percent of staff across several divisions, including the beauty, programming, engineering and creative departments.
In September, about 40 people were laid off from the 216-person staff, representing 18 percent of the e-commerce site.
The cuts are intended to “optimize operational efficiency and revenue growth across our key beauty and fashion verticals,” a Goop spokesperson said. Insider business information.
Gwyneth Paltrow’s wellness empire Goop has endured second round of layoffs in just two months
Actress and Goop founder Gwyneth Paltrow, who is also CEO, said the layoffs had put Goop “back in growth mode,” but it appears there were more cuts to be made.
Actress and Goop founder Paltrow, who is also CEO, said the layoffs had put Goop “back in growth mode,” but it appears there were still more cuts to be made.
There are few details on how solvent the company is, with a spokesperson simply stating that revenue grew year-over-year in 2023 and that 2024 looks like another year of growth.
The spokesperson said Goop Beauty’s revenue had increased 21 percent compared to last year, compared with a whopping 42 percent increase in 2023, while G. Label’s revenue was up 45 percent.
The latest round of cuts came in 2021, when at least 140 employees, including senior executives including a chief financial officer, a chief technology officer and a chief risk officer, are believed to have left the company over a two-year period.
While the pandemic represented some staff loss, former employees noted how Goop’s high-turnover problem predated the COVID-19 layoffs, and that paltry pay, a ‘tax culture,’ and the Award winner’s habit of the Academy of picking favorites and then apparently changing their minds. were the causes.
There are few details on how solvent the company is, with a spokesperson simply stating that revenue grew year-over-year in 2023 and that 2024 looks like another year of growth.
Goop will now focus on in-house clothing brand G. Label, beauty lines Goop Beauty and Good Clean Goop, and the launch of Goop Kitchen, a takeout-only restaurant.
Other former employees who complained about the company on Glassdoor also criticized the “bullies” and “mean girls” who rely on “fear-based management,” saying Paltrow in particular was “wanting to spend her days trying on clothes when she found them.” company desperately needed a real CEO.
The company now appears to be in the midst of a restructuring, with a more focused focus on beauty, food and fashion.
It includes in-house clothing brand G. Label, beauty lines Goop Beauty and Good Clean Goop, and the startup Goop Kitchen, a takeout-only restaurant.
When the company launched 16 years ago as a weekly newsletter, it seemed to generate fans and critics in equal measure with some attention-grabbing products, including sex powder and libido-boosting supplements, vampire repellent and scented candles, one of which was announced for smelling like Paltrow. orgasm.
The actress had put a $75 candle, cheekily named ‘This Smells Like My Vagina,’ for sale on her online Goop store and revealed that the geranium, citrus bergamot and cedar scented candle originally started out as a joke.
The company now appears to be in the midst of a restructuring, with an increased focus on beauty, food and fashion.
The actress included a candle called ‘This Smells Like My Vagina’ on her online Goop store.
According to the product description: “This candle started as a joke between perfumer Douglas Little and GP; the two were working on a fragrance and she blurted out, ‘Uhhh… this smells like vagina,’ but it evolved into a candle.” fun. A magnificent, sexy and wonderfully unexpected scent.
The actress had also previously advised readers to purchase a 24-karat gold vibrator worth $15,000 and jade vaginal eggs.
But Paltrow apparently has had no problem making a lot of money, raising more than $140 million in capital from blue-chip companies.
Paltrow says she began to feel uncomfortable accepting so much venture capital funding.
“You start answering questions about scale, especially if you’ve taken venture capital money. And that’s where I think it can be very, very difficult. And, frankly, I’ve made mistakes along the way,” he said during a Forbes conference in September.