Fab’s Internal Memo on Company Restructuring

Photograph by Scott Eells/Bloomberg

Fab CEO Jason Goldberg is shaking up the company’s executive ranks.

Fab is shaking up its executive ranks. Beth Ferreira, the chief operating officer of the New York-based e-commerce startup, is among those who are leaving, according to people with knowledge of the matter.

The company has cut more than 200 employees in the last four months. For the latest shakeup, Fab CEO Jason Goldberg asked his staff in a companywide e-mail to “not be distracted by gossip” while the restructuring is being finalized. Here is the internal e-mail he sent to Fab employees:

Fab team:

Earlier this week I presented a plan to our Board of Directors for 2014 to 2017. This plans includes a narrower business focus, refined merchandising strategy, investment in strategic initiatives to delight our customers, and a revamped and streamlined organization structure that will help us better serve our customers while guiding Fab to profitability. This plan was unanimously approved by the Board.

My goal is to share the new org structure with everyone by the end of next week. Fab will be structured differently than we are now. We are still working through some of the details on that though; it is not complete nor final.

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.

We are confident that our refined strategy and plan will put Fab on the best path for 2014 and beyond. I’m looking forward to sharing the details of that plan with you in the coming days. Until then, as difficult as it may be, I ask for your patience, your focus, and your willingness to try and not be distracted by gossip.

Thank you.

-jason

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