Breaking: Par lays off 60

The ax that began to swing last month now falls at Par and Par Vantage, as the company lays off 60 on Thursday. As THR's Jay A. Fernandez

reports, staffers come from the consolidated marketing, distribution and physical production departments, as those divisions from the spec unit have been rolled into the parent.

An internal memo says that  "we analyzed areas of redundancies and today, we announced we would be eliminating about 60 positions across the company," adding, "the goal is to be strategic and disciplined about how we manage the business for the long term, and to take into account the dynamic nature of the challenging marketplace."