It has been reported that the CEO of Farfetch, José Neves, will step down from his position amidst a series of layoffs at the company.

The layoffs include the departure of the Chief Fashion and Merchandising Officer and the Head of Farfetch Platform Solutions. This move comes after Farfetch was acquired by South Korean company, Coupang, for $500 million. Neves is expected to continue working with the company in a consultancy role, but his position will not be directly replaced.The interim management of the company will be led by Coupang founder Bom Kim and Farfetch's executive team.

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