Cabela's will cut 10 percent of staff at headquarters
After completing a review of its organizational structure, Cabela's (NYSE: CAB) said it is cutting 10 percent of its staff in selected areas at corporate headquarters in Sidney, Neb.
Two-thirds of the reductions will come from not filling open positions, and one-third come from job cuts. Cabela's will offer severance payments and outplacement assistance to affected employees. Across all operations, Cabela's reportedly has about 11,300 workers.
"This workforce reduction is an effort to reduce costs and improve efficiencies," said Dennis Highby, Cabela's president and CEO, in a statement. "While this was a difficult and challenging decision, I believe it was necessary given the macroeconomic environment we are facing. We don't expect these changes to impact customer service."
Crocs names new board member
Crocs (Nasdaq: CROX) has appointed Peter Jacobi to its board of directors. He was employed by Levi Strauss & Company from 1970 until his retirement in 1999. During his nearly 30-year tenure, he held various senior level positions including president and chief operating officer from 1996 until his retirement.
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