Slowdown Forces Stone to Cut 5% of Workforce

Dear Client:For those of you who think we're a bit too alarmist about craft's slowdown, consider that Stone just had to lay off about 5% of its workforce. They are among the segment's largest employers with more than 1,100 employees.The company's leadership has attributed the cuts to, among other things, a "recent decline in domestic growth for the category and for Stone." The company says the layoffs will help them stay competitive and profitable.Stone provided us this statement from Dominic