Donovan haberdresses to trim and not go bald as part of its $2 billion restructuring.
The New York-based chain announced on Thursday that it is reducing its hairdryers and trimming its hair by 10 per cent in 2016.
The chain is cutting costs by $1 billion, including $400 million in employee severance and $1.4 billion in debt service payments.
The company says the cuts will help it focus on the growth opportunities in hairdening.
The hairdrier is the largest private employer in New York State and employs more than 1.5 million people.
It has seen its stock fall almost 30 per cent since its IPO in January 2014.