Nautilus Cuts Staff to Lower ExpensesThe Nautilus Group Inc., Vancouver, WA, said last week that it laid off an unspecified number of employees to reduce expenses and expects to save $4 million in annual pre-tax savings.
For the third quarter, the company said it will record a restructuring charge of $200,000. The staff reduction equals 8 percent of its current labor costs.
"While the company enjoys a very strong financial position, we continually review the performance of our business segments, facilities and products," president/CEO Gregg Hammann said in a statement. "While we currently face a challenging business environment, we are clearly focused on our long-term corporate growth opportunities."
Nautilus markets, develops and manufactures health and fitness products sold under names such as Nautilus, Bowflex, Schwinn and StairMaster. It uses infomercials, response mailings, the Internet and inbound/outbound call centers to sell its products.