Goody's cuts home office work force by 5%

The company reported that the reduction was related to its recently announced $65 million investor funding. Goody's said that it has also  realigned its field support staff to achieve improved operating efficiencies.

According to Chuck Turlinski, ceo of Goody’s, “The reorganization and realignment of our field and home office support functions are consistent with our priorities to create a more responsive and cost-effective organization that will help us achieve our 2008 financial goals. We regret that the reduction in workforce is a necessary step toward achieving our objectives, and we are assisting those individuals who have been affected by today’s events.” 

Goody's currently operates 378 stores in 21 states.