ShopNBC today announced that an 11% workforce reduction would be part of an organizational re-structuring intended to reduce its cost structure and achieve the long-unrealized goal of profitable growth. With these most recent cuts — sixty positions, mostly in Eden Prairie, MN — the retailer has reduced its workforce by 27% since fiscal 2007. A suspension of the company’s match to employee 401(k) retirement accounts was among the other measures highlighted in the press release. ShopNBC Press Release on MS-NBC Minneapolis St. Paul Business Journal Minneapolis Star-Tribune Jan. 7, 2008
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