The wholesaler, which had credit insurance cover pulled by Euler Hermes earlier this month, has laid off “just under” 60 people, or 2 percent of overall staff. Included in the cuts are two executives for entertainment and music purchasing, LJ reports. CEO Thomas Morgan says “We have taken a fresh look at our organizational structure and made some adjustments…. We are continuing to pursue retail business that meets our financial objectives and are moving forward with a number of new retail accounts.” He notes, “During challenging economic times, it is our desire to cut all non-employee expenses first, but we […]
