FORT WAYNE, Ind. (WOWO):  Officials from Vera Bradley have some major changes coming in the near future.  Those plans include a CEO transition & cost cutting plans. Vera Bradley announced that President and Chief Executive Officer Rob Wallstrom will be retiring and also announced cost-cutting measures that could include layoffs. Wallstrom, who has served as CEO since 2013, says he will stay on until his replacement is named, which is expected to be in early 2023. The company has launched a national search for the next CEO. The company told Inside Indiana Business that it is also undergoing a “comprehensive cost-reduction and efficiency process,” in conjunction with its first quarter financial results. Last month, Vera Bradley reported a net loss of $7 million, which was a widening of the $2 million loss during the same period a year ago.