It’s truly a bad sign of the times when consumer merchants start cutting staff before the holiday season is even underway.
Last week, outdoor gear marketer Cabela’s announced plans to cut its corporate headquarters workforce by 10%. Now Oriental Trading Co. says it is slashing 10% of its corporate staff.
The Omaha, NE-based direct marketer sells novelties, toys, party supplies and home decor items to consumers as well as institutions. It employs about 3,000 workers in the Omaha area.
A spokesman says the company is cutting jobs to streamline operations and eliminate overlapping services in the “challenging economic environment.”
Founded in 1932, Oriental Trading was acquired by private equity firm The Carlyle Group in 2006. Former Hewlett-Packard Co. Sam Taylor took over as CEO of the company this past May.