Playboy Plans to Downsize
Playboy Enterprises won’t be partying today. In an announcement to investors prior to its Q2 earnings report, CEO Scott Flanders announced the company will have to pay a $3 million “restructuring charge” due to planned layoffs.
“The downsizing announced today is not a reflection of our employees’ talents and work ethic, but rather due to the overall change in the company’s strategic direction,” said Flanders in a press release.
Flanders did not specify the number of employees the company plans to layoff.
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