ROTH investor conference is Sunday - Wednesday. Implications of a new tax on some high net-wealth individuals from Moss Adams Capital. "The Legacy of Bing," next up at SHACC. Details on Industry Insight.
Quiksilver Inc. of Huntington Beach has notified the state of California that it will layoff 38 people May 1 and 77 people Aug 1, according to the Economic Development Department's WARN notice list.
Employers with 75 or more workers are required to provide notice when they plan to layoff 50 or more workers at a single job site, according to the state Web site.
Quiksilver executives have said publicly the company is cutting costs as its hard goods division continues to struggle. In the first quarter, the company posted a $21.9 million net loss. With its Cleveland Golf business excluded, which the company recently sold, Quiksilver posted a $14.7 million loss.
The number of employees being laid off is small compared to the overall size of the company, which reported a total of 9,600 employees worldwide at the end of October.
Other action sports sports companies are experiencing layoffs including Paul Frank and Sole Technology. Sole Technology laid off less than a dozen employees in the past few weeks as it makes some internal changes.
"Sole Technology has been making some organizational changes now for several months and as a result of these efforts, a handful of positions were eliminated," said Paul Migaki, chief operating officer. "We currently are still hiring in key areas that are strategic for our future growth."
Sole Tech CEO Pierre André Senizergues told me recently the company is beefing up its Etnies staff as it looks to focus even more on its largest and best known brand name.