Gwyneth Paltrow’s wellness empire Goop has implemented a second round of layoffs in just two months.
The cuts, implemented in late October, affect about 15 people, representing less than 6 percent of the workforce across several divisions, including beauty, programming, engineering and creative departments.
In September, about 40 people were cut from its 216-strong workforce, accounting for 18 percent of the e-commerce site.
The goal of the cuts is to “optimize operational efficiency and revenue growth in our key verticals, beauty and fashion,” a Goop spokesperson said. Business insider.
Gwyneth Paltrow’s wellness empire Goop has weathered its 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 more cuts had to be made
Actress and founder of Goop Paltrow, who is also CEO, said the layoffs had put Goop “back in growth mode” – but it appears more cuts will need to be made.
There are few details on how solvent the company is, with a spokesperson simply stating that revenue grew year on year in 2023, while 2024 looks like another year of growth.
The spokesperson said Goop Beauty’s sales were up 21 percent from last year, compared to a huge 42 percent increase in 2023, while G. Label’s sales were up 45 percent.
The latest round of cuts took place in 2021, when at least 140 employees, including high-level executives including a Chief Financial Officer, Chief Technology Officer and Chief Risk Officer, are believed to have left the company over a two-year period.
While the pandemic caused some staff losses, former staffers noted how Goop’s high turnover problem predated COVID-19 layoffs, and that paltry pay, a “tax culture,” and the Academy Award habit winner to pick favorites and then seemingly change their minds. were the causes.
There are few details on how solvent the company is, with a spokesperson simply stating that sales grew year on year in 2023, with 2024 looking like another year of growth.
Goop will now focus on its own clothing brand G. Label, beauty lines Goop Beauty and Good Clean Goop, and the start-up of Goop Kitchen, a restaurant that only delivers takeaway meals
Other ex-employees who complained about the company on Glassdoor also criticized the “bullies” and “mean girls” who rely on “fear-based management,” saying that Paltrow in particular “wanted to spend her days trying on clothes when the company desperately needed a real CEO.’
The company now appears to be in the midst of a restructuring, with a sharper focus on beauty, food and fashion.
It includes its own 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 as a weekly newsletter sixteen years ago, it seemed to generate fans and critics in equal measure with a number of eyebrow-raising products, including sex substance and libido-enhancing supplements, vampire repellents and scented candles, one of which was billed as smelling like that of Paltrow. orgasm.
The actress had a $75 candle, cheekily “This Smells Like My Vagina,” listed for sale on her online Goop store and revealed that the geranium, citrus bergamot and cedarwood scented candle originally started as a joke.
The company now appears to be in the midst of a restructuring, with a sharper focus on beauty, food and fashion
The actor famously posted 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 scent and she blurted out, ‘Uhhh..this smells like a vagina’ – but evolved into a funny, beautiful, sexy and beautifully unexpected scent.
The actress had also previously advised readers to buy a 24-karat gold vibrator worth $15,000 and vaginal jade eggs.
But Paltrow has seemingly had no trouble raising the big money, having raised 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 asking questions about scale, especially if you’ve taken on venture capital money. And that’s where I think it can be very, very difficult. And honestly, where I’ve made mistakes along the way,” she said at a Forbes conference in September.