Citing 'fluctuating retail landscape,' LLBean says it will trim up to 75 jobs in Maine

Photo / Renee Cordes L.L.Bean, a Freeport-based manufacturer and retailer, announced plans to trim between 50 to 75 jobs in Maine.

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By Renee Cordes

L.L.Bean, the Freeport-based clothing and outdoor gear maker and retailer, has announced plans to lay off up to 75 employees in Maine.

Jason Sulham, a spokesman for the company, told Mainebiz that the cuts will be “across our corporate headquarters."

The company, led by President and CEO Stephen Smith, completed a $110 million makeover of its headquarters building last year and is in the midst of a $50 million revamp of its flagship store and Freeport campus.

Warning of retail headwinds earlier this year, the company in March posted a decline in sales to $1.7 billion in 2023 from $1.8 billion in 2022 and announced a lower employee bonus rate.

The job cuts in Freeport are to be finalized in March.

“As the company continues to evaluate the fluctuating retail landscape and adapt our organizational design to enable long-term growth, we will implement a small, focused workforce reduction to better align resources with company goals and objectives,” the company said in a statement emailed to Mainebiz.

The reduction will be limited to around 50 to 75 people, or around 2% to 3% of its Maine-based staff, the company said. It noted that some departures, and that it will offer employees affected by the layoffs severance packages and outplacement services.

“Workforce reductions are always difficult and never a decision we make lightly,” the company added. “We are committed to supporting those impacted with empathy, respect, and care just as we are committed to sustainable growth and building a strong future for our stakeholders.”

The announcement comes in the middle of the holiday shopping season, which National Retail Federation Chief Economist Jack Kleinhenz expects to be strong.

“U.S. economic growth remained strong in the third quarter, with gross domestic product expanding more than many estimates of the economy’s long-run potential capacity,” he said in a Dec. 5 news release. “Personal consumption continues to provide the horsepower behind the economy, as it has throughout this expansion.”