Vista Outdoor Lays Off 57 Employees
The cuts were across the board and affected sales, marketing, supply chain and customer service in several of the company’s portfolio of brands. The layoffs had been foreshadowed in VSTO’s last earnings call when CEO Mark DeYoung said the steep decline in ammunition sales following the 2016 election called for the company to take action, which included reducing the workforce as well as other initiatives like expanding its e-commerce presence and reducing inventories.
The elephant in the room for VSTO is certainly the risk of further impairment charges related to its recent acquisitions. In ... Log in to view full article.