bebe stores, inc. Announces Workforce Reorganization

BRISBANE, Calif.--(BUSINESS WIRE)--bebe stores, inc. (NASDAQ:BEBE) today announced that, as a result of the Company’s focus on more streamlined lifestyle assortments and increased efficiencies across business functions, it has implemented a workforce reorganization. This reorganization will include the reduction of over 50 positions primarily in the design, merchandising, and production areas. The Company expects pre-tax costs associated with this initiative to be approximately $1.5 million, and anticipates annual cost savings of approximately $4.8 million. In addition, Manny Mashouf, Chairman of the Board of bebe, will be re-engaged with the Company, working closely with the design and merchandise teams to help guide this initiative.