Mannatech (MTEX) to Cut 15% of U.S. Workforce
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Mannatech, Inc. (NASDAQ: MTEX) announced it will immediately eliminate approximately 60 positions or roughly 15% of its United States workforce. As part of the company's strategic review, select Mannatech jobs will be eliminated in tandem with other discretionary expense reductions to reposition the company for improved profitability.
"Mannatech's executive management team has made this difficult decision which will reposition the company for improved profitability and enhancement of shareholder value," said Wayne Badovinus, president and CEO of Mannatech. "We have an opportunity to realize immediate efficiencies by streamlining projects and priorities that deliver the most value to our overall businesses and dedicated independent sales associates around the world..."
Mannatech, Incorporated is a global wellness solution provider. The Company develops and sells a variety of nutritional supplements, topical and skin care products, and weight-management products that target optimal health and wellness.[SM]
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