Coldwater Creek cuts 65 positions, saves $6M/year
Coldwater Creek cuts 65 positions, saves $6M/year
Coldwater Creek plans to save approximately $6 million pre-tax annually by eliminating 65 jobs, in an effort to refine the focus of the brand, products and customer relations.
The company would not comment beyond a statement, which read in part, “The company is evolving from one that has successfully focused on its service operations and channels of distribution to a brand that is more intensely focused on their products and customer experience.”
The move eliminated positions across several of the company's facilities. Specifically, the company laid off 51 people at its corporate headquarters in Sandpoint, ID, six in Coeur d'Alene, ID, two each in Seattle and New York, and four in other locations.
The cuts did not affect Coldwater Creek's retail stores, distribution center or customer contact centers.
In November, Coldwater Creek reported a net loss for the three-month period ended November 3, 2007, that totaled $6.2 million.
The company's last substantial layoff was also post-holiday. In January 2002, Coldwater Creek laid off 220 people, the majority were workers at its now closed distribution center in Sandpoint.
