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Cutting Back at Theory

Add Theory to the list of companies shedding employees. The firm laid off about 50 employees late last week.

CUTTING BACK: Add Theory to the list of companies shedding employees. The firm laid off about 50 employees late last week across departments including corporate, retail and its Manhattan warehouse. As for rumors of upcoming store closings as well, a spokeswoman would only say, “There is a regular review of store performance, which applies equally in this retail climate, as always.”