Wet Seal is closing most of its stores, laying off thousands of employees


Wet Seal is closing about two-thirds of its stores, the teenage fashion retailer announced Wednesday.
They're laying off about 3,700 employees, who aren't taking it well.
When the chain broke the news to employees, they were initially told they wouldn't receive severance pay, compensation for vacation time, or permission to look for other work, The Washington Post reports.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Julie Kliegman is a freelance writer based in New York. Her work has appeared in BuzzFeed, Vox, Mental Floss, Paste, the Tampa Bay Times and PolitiFact. Her cats can do somersaults.
-
Aug. 12 editorial cartoons
Cartoons Tuesday’s political cartoons include ICE youth, the self-serving EPA, Vladimir Putin demanding Alaska back, and Donald Trump with Jeffrey Epstein
-
Nicola Sturgeon's memoir: making the personal political
Talking Point Former Scottish first minister attempts to set record straight in 'Frankly' but does she leave more questions than answers?
-
Trump-Putin: would land swap deal end Ukraine war?
Today's Big Question Ukraine ready to make 'painful but acceptable' territorial concessions – but it still might not be enough for Vladimir Putin
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures