Layoffs, salary cuts at Lillian Vernon

(Direct Newsline) Lillian Vernon Corp. has trimmed its staff levels both through layoffs and deciding not to fill open positions. A total of 32 positions out of 327 were affected, with the cuts coming only among salaried employees. Hourly employees were not affected. The cuts came at both the Rye, NY, and Virginia Beach, VA, facilities.

In addition, salaried employees took pay reductions between 3% and 6%, depending on their level.

The Rye, NY-based marketer had third-quarter revenue of $87 million, down from $104.1 million a year ago. Its net income dropped from $5.1 million to $2.6 million during the same period.

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