(Bangor Daily News) L.L. Bean announced on Thursday that it would offer voluntary buyouts to eligible employees in 2018, discontinue contributions to the company’s pension plan and expand its parental leave benefit.
The changes “are designed to ensure L.L. Bean continues to be a thriving outdoor company for the next hundred years and beyond,” company Executive Chairman Shawn Gorman said in a statement.
The Associated Press reported company officials also said they’re taking a broad look at the business, including at its policy of offering free shipping on all items and a lenient return policy that lets customers bring back any product with which they are unsatisfied, for store credit.
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