Fab's COO Leaves The Company As The Startup Attempts To Restructure

FabFab held a job fair for its fired employees earlier this year.

The COO of e-commerce site Fab, Beth Ferreira, is adding to the company's executive turnover and leaving by the end of the year, according to Bloomberg.

The Bloomberg report comes from an internal email Fab CEO Jason Goldberg sent to the staff.

A spokesperson for Fab declined to confirm Ferreira's departure because restructuring changes at the company are still taking place.

Here's the statement:

"With regards to the rumors, it is accurate that Fab is undergoing management changes as we realign the business to execute our 2014-2017 plan," the Fab spokesperson said. "There will be a number of management changes involved as we streamline the organization and move the category to P&L based structure. As not all of the organizational changes are final yet, we are wit holding comment on any specific individuals until later this week."

After raising a massive $165 million in funding this summer, Fab has had some issues. The company recently fired several hundred employees, experienced a decline in site traffic, and earlier this month, co-founder Bradford Shellhammer left the company.

All the inner turmoil can be attributed to Fab's rapid growth; it has been trying to restructure, narrowing its focus and moving away from flash sales.