CALLAWAY LAYS OFF 300 TEMPS; NO PLANS FOR FULL-TIME CUTS

          Callaway "laid off 300 temporary workers" last week and
     "began to scrutinize its operations for other costs to
     slice" after the company posted a 55% decline in profits in
     the second quarter ended June 30, according to Bruce Bigelow
     of the SAN DIEGO UNION-TRIBUNE, who reported the company
     "has no plans to lay off any full-time employees."  Callaway
     CEO Donald Dye said the company will "start a very rigorous
     review of our cost structure," after it posted a drop in
     profits.  Dye: "This is the first time in the history of the
     company that we had a second quarter that was less than in
     the prior year."  Dye said that "non-core operations likely
     to bear close scrutiny include Callaway's interactive golf
     center and a golf instruction center in Las Vegas," which
     combined are losing around $1M a year (UNION-TRIBUNE, 7/25).