Playboy to cut workforce by 8 percent (PLA) by Tomi Kilgore
Playboy Enterprises (PLA) said it would reduce its workforce by 8 percent, or 70 positions, as part of a restructuring aimed at increasing profitability by reducing expenses. The company also plans to consolidate office space in Los Angeles. The media company expects the cost cuts to positively affect earnings in 2003. The stock is ticking up 7 cents to $9.32.
