Clothing rental company Rent the Runway has furloughed roughly 35% of its corporate employees and cut overall headcount as a result of the fallout from the coronavirus, the company confirmed to Business Insider.
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$1 billion unicorn Rent the Runway has furloughed 35% of its employees as the coronavirus ravages retail. Its path back to success isn't so simple.

Clothing rental company Rent the Runway has furloughed roughly 35% of its corporate employees and cut overall headcount as a result of the fallout from the coronavirus, the company confirmed to Business Insider.

A slew of startups, from Bird to luggage-maker Away, have been grappling with the effects of the pandemic.

As a flag-bearer for the new breed of direct-to-consumer brands, Rent the Runway's ability to withstand the crisis could serve as an important test case for startups facing the biggest business threat in a generation.

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