Astro-Med sheds staff to stem red ink

Specialty electronics manufacturer Astro-Med Inc. has laid off employees and taken other steps to cut costs after losing money during the first three months of the year, according to a regulatory filing the company made last week.

In its 10-Q quarterly report to the S.E.C., Astro-Med said it has laid off workers, frozen wages and salaries and reduced employees’ hours since the start of this year. The number of employees who lost their jobs was not disclosed. The company also is putting off “all non-essential capital expenditures” until the business climate improves.

Full Story: Astro-Med sheds staff to stem red ink Source: Providence Business News, June 16th, 2009 Author: Ted Nesi

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