Build-A-Bear sheds headquarters staff
By Staff -- Playthings, 1/12/2009 8:51:00 AM
ST. LOUIS—Build-A-Bear Workshop held a round of layoff at its headquarters late last week, according to published reports.
The make-your-own plush retailer axed 27 jobs at its St. Louis headquarters—approximately 8 percent of its workforce there—on Jan. 8, according to the St. Louis Business Journal.
“This is one of several initiatives taken to align our costs with our revenue expectations,” Build-A-Bear Workshop spokesperson Jill Saunders told the newspaper.
The news follows a troubling autumn for the company. In October, it reported a $2 million third quarter loss, hurt largely by a 14 percent drop in U.S. same-store sales, and that company president Scott Seay had been fired. In September, the retailer said it would close its nine Friends 2B Made doll stores and remove the line from its core plush stores.
According to the St. Louis Business Journal report, Build-A-Bear Workshop has scaled back its expansion plans for 2009 to one new store.
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