We’ve held out as long as possible, but the fact remains that Experiences is an unprofitable business for the co-op, and we must adjust course,' says REI CEO

REI Co-op announced it will close its Experiences division that includes adventure travel, day tours, and classes. The decision was announced in an email to employees Wednesday from President and CEO Eric Artz and will mean the elimination of 428 full- and part-time jobs in that division.

More than 400 employees will lose their jobs as REI closes its Experiences program, ending the adventure travel and outdoor education programs that have been part of the retailer’s identity for 40 years.

REI is shutting down its classes, tours, and events business, collectively known as Experiences. The outdoor retailer announced the end of Experiences on Wednesday, laying off hundreds of employees in the division.

Seattle-based REI announced on Wednesday it was closing the company’s Experiences division and eliminating the jobs of 438 employees.