If you have any questions, please contact Worklife at 1-86įormer Boeing or subsidiary* employees who left the Company before Jan. Follow the instructions below for 401(k), Pension, and Health & Insurance Benefits, as applicable. IMPORTANT: As a former employee, you will also need to update your address directly with the Benefit Suppliers. Terminated employees who are unable to access Worklife must contact EHD at (888) 469-0911 or (425) 234-0911. 1, 2011, you can update your address with The Boeing Company within Worklife. If you are a former Boeing or subsidiary* employee, and have left the company on or after Jan. In addition to updating your address with The Boeing Company within Worklife, remember to update your address with the Benefit Suppliers referenced below to ensure that you receive relevant benefit-related communications in a timely manner.įormer Boeing or subsidiary* employees who left the company since Jan. Post-2011 alumni - Login to Worklife to access the Your Benefits Resources site by clicking the “My Total Rewards & Benefits” quick access link.įorgot your Worklife password? Contact the Enterprise Help Desk at (888) 469-0911 or (425) 234-0911.Īs a former employee, you may have a need to update your address on file. Go to the website and enter your username and password (different than Worklife), or click “New User” to create your account. Health & Insuranceīoeing Service Center for Health and Insurance Login with your NetBenefits username and password (different than Worklife), or as a new user, click “Register Now” to set up online access to your account. Representatives are available Monday–Friday (except most New York Stock Exchange holidays) from 8:30 a.m. “Our goal,” Hyman said, “is to drive Rent the Runway to free-cash-flow profitability.Former employees, beneficiaries and alternate payees can access support directly from the benefits service providers using instructions below: 401(k) and Pension Also, the New York-based company restructured its debt, pushing out the maturity to October 2026 from October 2024, which reduced its cash interest payments to 2% from 7%, she added. That has generated cost savings of between $25 million to $27 million, Hyman said. Last year, Rent the Runway dismissed about a quarter of its nonhourly employees. The company is able to offer additional items at no extra expense to subscribers in part because of cost savings from the recent restructuring plan. The shares plunged in the year or so following its October 2021 initial public offering, then jumped late last year when the company reported stronger-than-expected quarterly results and showed progress on profitability targets. in New York trading, trimming the stock’s year-to-date gain to about 10%. Rent the Runway shares slipped 3.4% at 9:48 a.m. In the past couple of years, the company has boosted its gross margin and reduced the costs to ship out and take back its rental items. “We can make this investment into the customer with it having minimal impact on our gross margin,” Hyman said. Read more: Rent the Runway Works to Swap Red for Black With Tech Upgrade Under the new plan, those subscribers will receive one more item in each shipment, or two per month. Rent the Runway’s most popular plan offers subscribers eight items a month via two shipments. “We get a lot more bang for our buck investing into the customer experience than investing into marketing.” “This business grows by women organically telling other women about Rent the Runway,” Hyman said. The more items that subscribers wear, the greater probability that someone will comment on their dress or sweater, accelerating word-of-mouth marketing. “The customer is more cost-conscious than she’s ever been before,” Rent the Runway Chief Executive Officer Jennifer Hyman said in an interview.Įxecutives considered cutting monthly subscription fees in response but decided instead to give consumers more for the same price, Hyman said, reasoning that it would help with both retention and appealing to potential customers. The additional items are a way to woo new consumers to subscribe to the monthly service even as inflation bites.
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