---
schema_version: "secwatch.filing_event.v1"
accession: "0001573221-23-000008"
form_type: "8-K"
ticker: "REAL"
cik: "0001573221"
company_name: "TheRealReal, Inc."
filed_at: "2023-02-16T23:59:59+00:00"
generated_at: "2026-06-19T09:25:43.161662+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# The RealReal plans to cut ~230 jobs (7% of workforce) and close six stores

## Summary
- Will terminate ~230 employees (7% of workforce) and close six retail locations including flagship stores in San Francisco and Chicago.
- Non-recurring charges for the layoffs estimated at $1.7 to $2.2 million, mostly in Q1 2023.
- Real estate reduction costs not yet estimable; will amend 8-K when determined.
- Also reducing office space in San Francisco and New York; continues to evaluate real estate.

## SEC filing metadata
- accession: 0001573221-23-000008
- form_type: 8-K
- ticker: REAL
- cik: 0001573221
- company_name: TheRealReal, Inc.
- filed_at: 2023-02-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 2.06, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000008/0001573221-23-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000008/real-20230215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001573221-23-000008
- JSON: https://secwatch.observer/filing/0001573221-23-000008.json
- Plain text: https://secwatch.observer/filing/0001573221-23-000008.txt

## Key facts
- Restructurings & Charges
  TheRealReal, Inc. announced a restructuring with charges of approximately $1.7 to 2.2 million affecting workforce and real estate footprint (approximately 230 employees (the “RIF”), representing approximately 7% of its workforce).
  - Type: restructuring
  - Charge: approximately $1.7 to 2.2 million
  - Affected area: workforce and real estate footprint
  - Headcount: approximately 230 employees (the “RIF”), representing approximately 7% of its workforce
  source text: Under this plan, the Company will (a) terminate approximately 230 employees (the “RIF”), representing approximately 7% of its workforce, and (b) reduce its real estate presence, as described herein (the “Real Estate Reduction Plan”). At this time, the Company intends to (i) close two flagship stores (San Francisco, California and Chicago, Illinois), two neighborhood stores (Atlanta, Georgia and Austin, Texas), and two luxury consignment offices (Miami, Florida and Washington, D.C.), including any co-located logistics hubs, and (ii) reduce its office spaces in San Francisco, California and New York, New York. The Company will continue to evaluate its real estate presence as it deems appropriate to create efficiencies and to address trends in the marketplace and macroeconomic factors. Costs Associated with the RIF The Company estimates that it will incur non-recurring charges of approximately $1.7 to 2.2 million in connection with the RIF, primarily consisting of severance payments, empl
  evidence_url: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000008/0001573221-23-000008-index.htm

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