[neguoogleX]

Golf Channel just announced Calloway is laying off approximately 10% of its workforce worldwide.

[2puO4Rhf]

Edited the title to correct spelling of Callaway. I know the two Calloway guys on this site are famous, but who knew they made clubs too.

[Romobencience]

seems they do some laying off every summer

[Romobencience]

found this from a june article after the CEO "resigned"

More layoffs are coming. The company, which employed 2,100 worldwide at year end, said it would reduce headcount “at all levels of the organization” with the aim of slashing annual expenses by $50 million

[enasseneiff]

Doesn't sound like they have much of a choice. Rebuilding a brand comes with some painful decisions. I wish those departing employees well, it's a scary time to be out of work.

[ttoothh]

seems to be happening everywhere. those of us in the defense industry are looking at 30-40% reductions if the government doesn't get its act together.

[Arkadiyas]

cutting payroll is bad for the employees who get laid off, but it's better for the companies bottom line

a good financial move by Callaway

[Romobencience]

cutting payroll is bad for the employees who get laid off, but it's better for the companies bottom line

a good financial move by Callaway

I agree, sales declining year over year, and losses growing year over year, something's gotta give

[deackatera]

Sad news indeed, they need to get more sales and help turn the company around. Someone tell KMAC to head over to his local Golf Galaxy!!

[Frodogzzz]

This is unfortunate to hear. Maybe as Callaway continues to rebuild they can hire some of these people back on board.

[euylvaygdq]

I hate to see this happen, I think Callaway has some of the best equipment going right now and I am proud to be representing them in the Morgan Cup!

Edited the title to correct spelling of Callaway. I know the two Calloway guys on this site are famous, but who knew they made clubs too.

And I am sure they have relatives they are too fond of...we all do right...but I doubt they would be laying them off...LOL

[NumsAmenniams]

Wonder if this will preclude them from signing new or re-signing existing staffers as well?

found this from a june article after the CEO "resigned"

More layoffs are coming. The company, which employed 2,100 worldwide at year end, said it would reduce headcount “at all levels of the organization” with the aim of slashing annual expenses by $50 million

[Romobencience]

Wonder if this will preclude them from signing new or re-signing existing staffers as well?

ya never know, or maybe some "trimming of the fat"

[Ankeseiband]

I worked for Honeywell when I got out of college and every quarter, there was a 5% reduction in the workforce. As soon as the earnings were announced for the quarter, they would hire "fresh outs" to fill those jobs. Tough on morale, especially when long time employees were being let go.

Sent from my SPH-D710 using Tapatalk 2

[Neitteloxesia]

That's too bad, I wonder how their tour staff roster will change in the coming months. Maybe they should stop making lavish commercials and paying celebrities to be on their staff!

[nonDosearrany]

Golf equipment is a highly advertising and endorsement driven industry. Significant cuts to that budget will reduce sales.

The Golf Channel report I heard mentioned that Callaway lost just over $100m last year. Since you can't cut R&D without jeopardizing your future and you can't cut endorsements, advertising, etc. without a hit in sales, unless there are massive process inefficiencies (the optimization of which would itself result in labor reductions) there is little else Callaway can cut except its labor costs. It's very sad and I hope they give those employees good severance and outplacement assistance.

[Romobencience]

$886 million in sales, and a $172 million loss....ur not doing something right

[Jifyicyfuhpop]

Too bad, but I'm sure this is the right move for them. I hope it helps in the long run.

[Neitteloxesia]

$886 million in sales, and a $172 million loss....ur not doing something right

Wow, there's a huge difference there. With that much in sales you'd think they'd be able to get their expenses under control!

[Percocetti]

I have heard Callaway has been in trouble for a few years now.
I did my part however, I purchased a set of RAZR HL a few months ago. I never thought I would own Callaway clubs, but I have to say I love these things. They really make me feel like I can play this crazy game. I hope they bounce back. Did't they just hire the TM marketing guy?