By  on January 23, 2012

John Auerbach has exited as president of Park & Bond, the full-price men’s site launched by Gilt Groupe last August.

The departure comes amid a restructuring that included layoffs of 80 to 90 employees at the company on Friday, which represented about 10 percent of the total workforce. Auerbach was considering leaving the position for several months prior to the layoffs, said a source.

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