BOULDER, Colo.–AeroGrow will reduce its work force by 35 as it looks to meet the challenges of a difficult marketplace.
The reductions will include managers, salaried and hourly employees, and contract workers, a company statement said. As of Dec. 1, the manufacturer of indoor gardening products numbered 100 full-time employees. The statement said the job cuts are expected to result in $2 million in annual savings.
In the statement, Jerry Perkins, chief executive officer, said the last quarter was the first profitable quarter in AeroGrow’s history.
“However, given the dramatic changes in market conditions we’ve seen since the end of that quarter, and the depth and likely duration of the downturn, we have had to expedite our planned actions,” Perkins said. “To achieve our longer-term goals of continued growth, broader distribution and improved profitability, we have had to act more aggressively than we anticipated in the short term.”