Fitness equipment maker lays off about 30 employees
VANCOUVER, Wash. (AP) — Fitness equipment manufacturer Nautilus Inc. has laid off about 30 employees at its headquarters in Vancouver, Washington, and at other locations.
The Columbian reports the layoffs that represented about 7 percent of its workforce included employees in customer service, information technology, product development, operations and marketing.
The company had told investors last month that its fourth-quarter results would fall below projections.
According to the preliminary report, the company expected annual revenue of $395 million to $397 million and operating income between $20 million and $21 million.
Nautilus had previously projected revenue of $431 million to $440 million and an operating income between $42 million to $45 million.
John Fread, Nautilus director of global marketing communications, says the layoffs are the “first action of this type in nearly 10 years.”
Information from: The Columbian, http://www.columbian.com