The Associated Press is reporting that Tommy Hilger Corp will cut 135 jobs. The company blamed a “challenged” environment in the U.S. wholesale business for the agressive cuts.
The cost of the cuts in terms of impact on the company’s bottom line through the end of the year is expected to be negligible. The Hong Kong based Tommy Hilger company is has an estimated 6,000 employees worldwide and reportedly put itself up for sale last month.
Speculation was rampant that Bentonville, Arkansas based Wal-Mart was a possible suitor. Company shares fell 21 cents, 1.2 percent, to close at $17.39 Thursday on the New York Stock Exchange