Blaming a weak US economy, lessening demand for high-end wines, and a glut of grapes that has driven down prices, Robert Mondavi Corp. announced that it is going through a restructuring.
The San Francisco Chronicle reports that Mondavi will lay off between 80 and 90 employees, and centralize its marketing and vineyard management functions to eliminate redundancies.
The company also said that it will have a quarterly loss of between $1 million and $1.5 million – which will be only the third loss the company has had since going public almost a decade ago.
The San Francisco Chronicle reports that Mondavi will lay off between 80 and 90 employees, and centralize its marketing and vineyard management functions to eliminate redundancies.
The company also said that it will have a quarterly loss of between $1 million and $1.5 million – which will be only the third loss the company has had since going public almost a decade ago.
- KC's View:
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We were speaking with a retailer the other day who told us that his company had been trying to figure out what to do about declining wine sales. So, the company selected a specific period of time to compare to a year earlier – and discovered that while sales were off, the company had in fact sold one less bottle that during the same period a year earlier.
For the record, we're trying to do our share to help the wine industry's efforts...
