Enesco Tightens Belt
Staff -- Gifts & Decorative Accessories, 6/1/2001
Itasca, IL — In a move to reduce costs and "position the company for future growth," Enesco Group Inc. cut 120 positions. Dan DalleMolle, president and CEO of Enesco, said, "While we are not happy to eliminate jobs, this action is a necessary step in order to increase profitability." A spokesperson for Enesco told Gifts & Dec that the company has no current plans to close any of its showrooms, although it is keeping that option open. DalleMolle indicated in a press release that the company plans to restructure its operations, marketing, and sales departments to improve efficiency. "Building shareholder value and strengthening our consumer satisfaction will be paramount," he concluded. According to Enesco, one-time costs associated with the decrease will be approximately $500,000, while annual savings will amount to approximately $8 million.
As first reported in Gifts & Dec Direct
