
Layoffs likely at L.L. Bean
"PORTLAND, Maine - L.L. Bean Inc., the Maine-based clothing and outdoor-goods retailer, anticipates layoffs this year after annual revenue dropped for only the third time since 1960, the company's CEO told employees in a memo Monday … Revenue for the company's fiscal year that ended late last month was $1.5 billion, down 7.8 percent from the previous year, and sales are expected to be down in 2009, as well, said Chris McCormick, president and CEO. Privately held Bean doesn't release earnings."
Source: MSNBC ...

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