L.L. Bean's lenient return policy on chopping block

FREEPORT, Maine — L.L. Bean is looking to cut costs, and its lenient return policy could be on the chopping block.

Under the Maine-based company’s return policy, it will take back the most products, even ones that have been used for years, without question.

The company said abuse of their satisfaction guarantee is costing the company money.

L.L. Bean has also made plans to cut workers, freeze pensions and offer voluntary early retirement policy.

The company said the changes are needed to keep the business competitive.

Cox Media Group