Maker of OXO and Osprey is laying off 10% of staff

TL;DR

Helen of Troy, which owns OXO and Osprey among other consumer goods and beauty brands, is laying off 10% of its staff, in the face of sluggish demand and economic uncertainty.“The new structure will reduce the size of our global workforce with impact across all business segments, departments and shared services,” said COO Noel Geoffroy during an analyst call Thursday.For consumer goods makers like Helen of Troy, reduced demand from people cutting back on spending because of inflation and other pressures has been a challenge.Net consolidated sales at Helen of Troy dropped 10.6% in the three months ending November 30, compared to the same period the year before, the company said Thursday.“As consumption slowed, some retailers continued their conservative repurchase patterns to further reduce their inventory,” Mininberg said, adding that “the holiday season started off slower than expected with discretionary categories generally under pressure from these trends.”Helen of Troy’s brands include Hydro Flask and Osprey, as well as a number of health and wellness brands like Honeywell and Pur."

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