Bass Pro Shops confirmed that it had laid off “fewer than 60” employees at its corporate headquarters in Springfield, MO, and at a woodworking shop in nearby Nixa. It also laid off an average of six employees at most of its stores across the country.

Bass Pro operates 94 stores and Tracker Marine Centers across America and Canada. Reports estimated the total number of layoffs at around 500, which represents about 2 percent of the company’s overall employee count of approximately 22,000.

In an interview, Katie Mitchell, communications manager at Bass Pro Shops Group, said Bass Pro’s business remains healthy. The layoffs stem from an effort to realize efficiencies following a rash of hirings in recent years to support its expansion.

“Bass Pro Shops routinely reviews its staffing needs in order to continue delivering the greatest value to our customers,” said Mitchell. “As a result, we recently eliminated certain positions and reduced staff.  We value our associates and consider even a small reduction in positions to be a serious matter though statistically it is not a significant number for an organization our size. Our head count remains at a historic high for our company – with more than 600 new positions created in the past two months alone. These measures are intended to keep the company healthy and strong and do not reflect any fundamental change within the company.”

Bass Pro remains on track to open eight new stores this year, following the opening of six in 2014.

The layoffs come after the Wall Street Journal reported in September 2013 that Bass Pro hired investment bank Moelis & Co. to help explore options for raising funds and then in April 2015 reported that Leonard Green & Partners was in advanced talks to take a minority stake in Bass Pro. Bass Pro has not publicly commented on the rumored financial talks.