J.Crew Group is in a reorganization mode as it look to better position itself for growth.

The apparel retailer announced several strategic changes across its organization, including reducing headcount. Approximately 150 full-time and 100 open positions are being cut, mostly from corporate headquarters.

“We take these difficult decisions very seriously, but believe they are absolutely necessary,” said J.Crew Chairman and CEO Millard Drexler. “We are streamlining our teams as we evolve our business and processes to cater to the new demands of the retail industry. While challenging, we know what needs to be done and this is a critical step to position J.Crew for the future.”

The company expects to realize approximately $30 million of annualized pre-tax savings in connection with the downsizing. It will record a charge of approximately $10 million…