The Nautilus Group, Inc. on Friday announced a reduction in its workforce to lower expenses in response to the current business environment.
This savings is being achieved through attrition, headcount reduction of employees, and the elimination of contract workers.
Gregg Hammann, President and Chief Executive Officer stated: “While the company enjoys a very strong financial position, we continually review the performance of our business segments, facilities and products. We believe today's action is a necessary response to the current business environment and will enhance long-term value for our shareholders.”
Mr. Hammann continued, “While we currently face a challenging business environment, we are clearly focused on our long-term corporate growth opportunities. We believe our recent initiatives combined with our portfolio of leading health and fitness brands, strong balance sheet, and superior customer service will continue to position our company as a leader in health and fitness products for years to come.”
