---
schema_version: "secwatch.filing_event.v1"
accession: "0001468327-24-000004"
form_type: "8-K"
ticker: "RENT"
cik: "0001468327"
company_name: "Rent the Runway, Inc."
filed_at: "2024-01-09T23:59:59+00:00"
generated_at: "2026-06-07T01:26:50.352317+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Rent the Runway to cut 10% of corporate staff, COO/President Salinas resigns

## Summary
- Board approved restructuring on Jan 8, 2024; cuts ~10% of corporate employees to focus on growth and profitability.
- Expects $3M-$4M in charges ($2M-$3M cash severance, ~$1M non-cash asset impairment), mostly in Q4 FY2023.
- Annualized run-rate cash savings of $11M-$13M expected; plan substantially complete by end of Q4 FY2023.
- COO/President Anushka Salinas resigns effective Jan 31, 2024; CEO Jennifer Hyman becomes President and principal operating officer.
- Salinas receives $950k lump sum, COBRA through Apr 2025, and accelerated vesting of time-based RSUs; costs included in restructuring charges.

## SEC filing metadata
- accession: 0001468327-24-000004
- form_type: 8-K
- ticker: RENT
- cik: 0001468327
- company_name: Rent the Runway, Inc.
- filed_at: 2024-01-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1468327/000146832724000004/0001468327-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1468327/000146832724000004/wdq-20240108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001468327-24-000004
- JSON: https://secwatch.observer/filing/0001468327-24-000004.json
- Plain text: https://secwatch.observer/filing/0001468327-24-000004.txt

## Key facts
- Executive change
  Jennifer Hyman was appointed as President and principal operating officer at Rent the Runway, Inc..
  - Action: appointed
  - Role: President and principal operating officer
  source text: On the same date, Jennifer Hyman, the Company’s Chief Executive Officer, was appointed as the Company’s President and designated as the Company’s principal operating officer, effective on the Transition Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468327/000146832724000004/0001468327-24-000004-index.htm
- Executive change
  Anushka Salinas resigned as Chief Operating Officer and President at Rent the Runway, Inc..
  - Action: resigned
  - Role: Chief Operating Officer and President
  source text: On January 8, 2024, Anushka Salinas resigned as the Company’s Chief Operating Officer and President, effective January 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468327/000146832724000004/0001468327-24-000004-index.htm
- Restructurings & Charges
  Rent the Runway, Inc. announced a restructuring with charges of approximately $3 million to $4 million (approximately 10% of its corporate employees).
  - Type: restructuring
  - Charge: approximately $3 million to $4 million
  - Headcount: approximately 10% of its corporate employees
  source text: On January 8, 2024, the Board of Directors of Rent the Runway, Inc. (the “Company”) approved a plan designed to focus its workforce and cost structure on key growth opportunities and support its profitability goals, consistent with the Company’s anticipated budget for fiscal year 2024 (the “Restructuring Plan”). The initiative includes a reduction in workforce that will involve approximately 10% of its corporate employees. The Restructuring Plan is expected to be substantially completed by the end of the fourth quarter of fiscal 2023 and fully completed by the end of the second quarter of fiscal 2024. The Company expects to incur charges of approxim ately $3 million to $4 million for the Restructuring Plan, substantially all of which is expected to be incurred in the fourth quarter of fiscal year 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468327/000146832724000004/0001468327-24-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.