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Rent The Runway Struggles -- Layoffs Planned

Despite a strong second quarter that included record revenue, Rent The Runway is planning to shed almost a quarter of its corporate employees by year's end. Executives tell analysts they are pleased with the company’s performance and that the restructuring is meant to help the site reach profitability more quickly. The clothing and accessories rental company has shaken up its model more than once, including shifting its assortment to add workwear to its special-occasion focus.

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