ENESCO TRIMS ITS WORK FORCE.(Enesco Group Inc. )(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, October, 2005
NEW YORK-Following on the heels of announced plans to improve operations, Enesco downsized its corporate offices in the United States and the United Kingdom in an effort to reduce overhead costs.
In the United States, the downsizing affected the finance, information technology, marketing and communications areas. In the United Kingdom, redundancies were eliminated across all areas of the business, the company said.
Enesco expects total charges associated with these workplace reductions to be $691,000, which will be recorded in the third and fourth quarters of 2005. Annual cost savings in the United States are estimated to be $670,000, which is included in the $34 million to $38 million previously announced.
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