Feminist Underwear Brand Thinx Appears To Be Imploding
Thinx employees faced a strange turn of events during an urgent, company-wide Zoom call last month. CEO Meghan Davis, sticking to a prepared statement, announced a major shift: Thinx was to be absorbed by Kimberly-Clark, its parent company known for Kotex and Kleenex, leading to widespread layoffs. Out of a 109-person team, 95 members were informed of their impending job loss.
Employees found themselves in a serious bind; to qualify for severance, they had to remain with the company until May. A handful were given the chance to stay on as Kimberly-Clark employees, with the risk of forfeiting their severance if they declined the offer. Kimberly-Clark assured them that Thinx would maintain its market presence without significant changes for the time being, with a collection launch scheduled for April still in the pipeline.