USA: Superior Uniform Axes Jobs, Poor Earnings
Superior Uniform Group Inc, which has suffered a 49 per cent slump in second-quarter earnings, plans to axe more than USD1.4 million from its payroll.
The company reported second-quarter net income of USD646,533 compared to income of USD1.3m a year ago, while sales fell slightly to USD34.8m from USD35.4m last year.
Superior Uniform says that it is still feeling the strain of problems experienced with implementing warehouse upgrades, and that, while difficulties had been fixed at the start of the quarter, sales had been affected by some customers cutting down the volume of their businss.
Chief executive officer, Michael Benstock, commented: "Management is focused on the overhead structure of the company and has implemented staffing reductions that are expected to result in annualised payroll reductions of over USD1.4m, while still allowing the company to achieve improved results in the future."
Superior Uniform makes and sells uniforms, corporate identification, career apparel and accessories.
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