I heard 18+ Non union management employees laid off some with 8-10 years on job (?letting some talent go or dead wait). Union has had voluntary lay off for weeks. COO is getting old and in bankruptcy, CEO is up there as well. The C level management seems to going toward family. Did 600K sales last month provoked layoff....Will there strategy keep them alive?
600K of sales in Jan? Annualized that only sums to a quarter's worth of revenue, and if true, an indication that the business is in trouble. Cost cutting via trimming 18-20 positions might save some cash but sales are the key. I forsee the previously touted book value/sh slipping toward $2 as result of neg cash flow and inventory writedowns.