Layoffs at Maidenform

Iselin, N.J.–based Maidenform Brands Inc. announced plans to restructure 9 percent of its staff, eliminating 24 positions. Severance payments and outplacement assistance are being provided. The company announced it expects to report a 2 percent decrease in net sales in 2008 to approximately $413 million from the previous year. The company said its “gross margin rates were impacted late in the fourth quarter of 2008 by overall weakening consumer demand and a greater emphasis by our customers to reduce inventories and increase promotional activity in the face of the global economic crisis and challenging market conditions.”