In its second-largest acquisition, Amazon buys the company for $970 million.
Online retailer and cataloger Oriental Trading Co. has announced that it is cutting 10% of its staff in an effort to streamline the business. The company employs approximately 3,000 people.
Omaha, Neb.-based Oriental Trading Co. Inc. has announced plans to cut 10% of its staff. The company which sells party supplies and novelty items employs about 3,000 people in its call centers, fulfillment centers and corporate offices.
Other companies that have announced job cuts this month as the economy continues to weaken include auction site eBay Inc. and outdoor gear merchant Cabela’s Inc. Both companies are planning to reduce their work force by 10%.
Oriental Trading, No. 49 in the Internet Retailer Top 500 Guide, says the decision is necessary to streamline its business and that the company remains confident in its long-term growth potential.
To boost sales this holiday season, Oriental Trading has added new features and special promotions such as a “Deal of the Day” feature, customer ratings and reviews for all 40,000 products that are offered online, and streamlined the checkout process. The company also is running offers for free or discounted shipping on purchases on its e-commerce sites, OrientalTrading.com and TerrysVillage.com.