PR Newswire:
Stampin’ Up!, a Utah-based direct sales company that manufactures and sells decorative rubber stamps and crafting accessories, announced to its employees that layoffs are imminent and are expected to happen in April.
Stampin’ Up! began more than a year ago making proactive cost reductions and carries no debt, which puts it in a much stronger position than many other companies operating in this economy. However, the company’s 2008 sales downturn reflected the national decrease in consumer spending, making additional reductions necessary to position the company for the future, based on the constraints of the current economy. This will be the first time in its 20-year-history that the company has experienced a major layoff.
“Our company is sound,” says CEO and co-founder, Shelli Gardner. “Making this decision is one of the most difficult things I’ve ever done, but we have a responsibility to preserve and protect the businesses of over 40,000 global demonstrators [independent consultants] by allocating company resources responsibly now.”
The company’s international markets continue to grow. Stampin’ Up! has expanded in the last five years into Canada, including Quebec; Australia, New Zealand, France, Germany and the United Kingdom. The company is investing domestically and internationally in demonstrator programs and marketing to increase future sales.
Photo from Stampin’ Up