[neguoogleX]

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

[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.

[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

[Jifyicyfuhpop]

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

[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

[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!!

[tipokotap]

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

They can re-sign me at a big discount!

Sent from my Kindle Fire using Tapatalk 2

[Phlkxkbh]

You would need to look at the statement of cash flows for the company to get a better idea of how they are doing. Net income can be skewed based on depreciation, amortization, and a number of other non-cash expense items. Especially the past two years when companies were able to take 100% bonus depreciation on a lot of their fixed asset purchases. Watch the next few years, when the 100% bonus depreciation goes away, I think you will see the net profit increase quite a bit with a lot of companies.

[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

[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!