Stitch Fix Founder Katrina Lake is coming back to the CEO role as current CEO Elizabeth Spaulding is leaving after a year and a half on the job.

The personal shopping retailer is also cutting 20% of salary-based jobs, according to a Wall Street Journal report, which is the second downsizing move in the past 12 months. It cut over 300 jobs in 2021.

Lake served as CEO from its founding in 2011 through mid 2021 and will lead the company on an interim strategy, according to the report, as the brand searches for a successor.

"Despite the challenging moment we are in right now, the board and I still deeply believe in the Stitch Fix business, mission and vision," Lake wrote in the company blog post.

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