twice connect
careers

Russound Cuts Staff; Blames Housing Starts

3/10/2008 02:00:00 AM Eastern

Multiroom-audio supplier Russound reduced its workforce by 18 percent, citing the state of the economy in the United States and foreign markets and the continued decline in U.S. housing starts.

The company didn't elaborate on the number of employees laid off or their positions in the company.

"Russound's business is primarily tied to the home building industry, which has been in decline for well over a year now," said CEO Joe Brouillet. "Everyone in the custom installation business is thinking about how the reduced number of new housing starts is going to affect our business over the next five years."

The company also announced that strategic development VP Jeff Kussard stepped down to become an independent consultant and that it would search for a replacement.

PHOTOS
Ultra HD OLED TVs In IFA Spotlight

At IFA, all Ultra HD makers are quickly expanding

Jack Wayman, the Father Of International CES

Tributes continue to pour in for Jack Wayman, who

Nationwide PrimeTime 2014

Scenes from Nationwide PrimeTime buy fair held in

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer