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Sources: Callaway To Announce Cuts Of Up To 10% Of Workforce

Sources said Callaway Golf Co. today will announce cuts of up to 10% of its global workforce after the 4:00pm ET bell on Wall Street. The changes to "unspecified divisions" of the company are "part of an overall company plan instituted" by new President & CEO Chip Brewer. The majority of the 150-170 people let go as part of this "cost reduction initiative" will be in North America. Callaway Senior VP/Americas Joe Urzetta was the "highest employee to lose his job in the staff reductions" (GOLFWEEK.com, 7/10).

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