Stuller Lays Off 45 in Restructuring

Rob Bates, Senior Editor, Hedda T. Schupak, Editor-in-Chief -- JCK Online, March 4, 2008

Jewelry manufacturer and distributor Stuller Inc. is reducing its workforce by 45 employees in a realignment of its management team.

JCK has learned that among the laid off were Joseph Buttross, Stuller's vice president of diamonds and Ray Weiland, vice president of manufacturing.

"This restructuring process is designed to streamline our daily business operation," Matt Stuller, chief executive officer and founder of the Lafyette-based company, said in a statement. "We believe this will help us sharpen our focus on our core customers while enhancing our ability to react to constantly changing conditions in the marketplace."

The comapny cited the high-cost of precious metal prices and the national economic outlook for the remainder of 2008 as reasons for that layoffs.

The reduction represents 2.5 percent of Stuller's 1,770 employees.

“Our mission remains to be the fastest, most reliable supplier of high quality, value added products for the jewelry industry,” says Charles Lein, Stuller president and chief operating officer. “By realigning part of our management structure, we will be even more responsive to our customers’ needs.”