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Article: Sluggish Outlook for Sales Prompts Layoffs at Coleco
- Article from:
- The Washington Post
- Article date:
- November 27, 1987
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Citing sluggish sales and expectations of a slow holiday season,
Coleco Industries Inc. has laid off 60 workers, or about 10 percent
of the work force, at its West Hartford headquarters.
The toy company said those laid off ranged from vice presidents
to clerical workers. The reduction, which is effective immediately,
drops the employment at Coleco headquarters to about 550 people.
"This is in response to an anticipated decline in consumer
spending during the holidays and the first half of 1988," said
Barbara Wruck, Coleco's vice president of corporate communications.
"Coleco is intensifying its cost reduction efforts throughout the
company."
In the past two years, Coleco has laid off ...