Reporting a second quarter net loss of $19.3m on sliding sales (figures in page five), Tandon Corp, Moorpark, California says it is taking steps to cut expenses, and cut its European workforce by 7% during the quarter and its US workforce by 6% the week before last. It is also reducing the number of mass merchandising organisations through which it sells its machines in the US, instead concentrating on a few select accounts, such as Sam’s Club, owned by Wal-Mart Stores Inc.The new strategy led to a high number of product returns from mass merchandisers such as BestBuy and BizMart Inc, which hurt the second quarter results, the company said.
