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Mannatech cuts costs with layoffs

This article was originally published in The Tan Sheet

Executive Summary

The Coppell, Texas-based multi-level marketer will immediately eliminate roughly 15 percent of its U.S. workforce, or approximately 60 positions, as part of an effort to reduce expenses and "reposition the company for improved profitability," the supplement and skin care firm says July 10. The firm's cost-cutting measures also follow recent legal troubles. Mannatech agreed to pay $11.25 million in March to settle class action allegations that it caused its stock to trade at inflated levels between Aug. 10, 2004 and July 30, 2007 by failing to adequately monitor how its associates advertised its products (1"The Tan Sheet" March 24, 2008, In Brief)...
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