Tweet

Ultimate Cuts 30 HQ Staff Positions

By Alan Wolf -- TWICE, 2/7/2005

THORNTON, COLO — THORNTON, COLO. — Ultimate Electronics has eliminated 30 positions across several departments at its corporate offices, here, as it begins to reorganize under Chapter 11 bankruptcy protection.

No store closings or further layoffs or were announced.

“The company is looking at all alternatives,” a spokesperson told TWICE, calling reported rumors of planned store closings and additional headcount reductions “speculation.”

The consolidation reduced the headquarters staff to 330, the spokesperson said, and Ultimate is trying to place the downsized employees in vacancies throughout the company.

Separately, Ultimate's new chairman, Mark Wattles, resigned as chairman/CEO of Hollywood Entertainment last week. He was succeeded as CEO by president F. Bruce Giesbrecht, but no chairman was named. The move came as Blockbuster raised its offer to about $985 million in a now hostile takeover bid for Hollywood.

Tweet

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author

No related content found.

Also by this author

• hhgregg Q3 Profits Fall 16.5%

• Conn's Q4 Comps Soar 12.1%

• CE A Drag On Jan. Sales: Discounters

• R'Shack Offers Low-Price Phone Guarantee

• Staples Taps Ex-Borders Chief For Top Merchandising Role

» MORE

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Shopatron

  

  Shopatron is the world's leading provider of global eCommerce for consumer goods. With Shopatron, orders placed on branded websites are offered to a managed network of global partners for fulfillment, typically for assignment to local retailers. Local fulfillment translates to..more

---

Most Recent Resources

• Bicycles & eCommerce
• Benchmark Study of Shopatron Retailers
• Web 2.0: Engaging Customer Passion
• A Branded Manufacturers Guide to Holiday eCommerce Success
• Maximise Content Delivery Performance