El Paso’s Helen of Troy cutting 10% of global workforce
EL PASO, Texas -- Helen of Troy, the only publicly-traded company headquartered in El Paso, said it is laying off ten percent of its global workforce.
Helen of Troy is the maker of OXO, Hydro Flask and other brand-name products.
The company's third-quarter fiscal report shows the company is starting a three-part global restructuring plan that includes cutting ten percent of the staff.
"The Company believes that these changes better focus business segment resources on brand development, consumer-centric innovation and marketing," the report reads.
Helen of Troy employs about 400 people in El Paso and 2,100 people globally. It is unclear if the cuts will affect El Paso jobs.
A majority of the staff reductions will be done by March 1, with the remaining cuts completed before the end of fiscal year 2024.