GNC Lays Off 60

PITTSBURGH--General Nutrition Centers (GNC) cut its staff down by 60 at its headquarters here. The April 4 cuts, which swept a number of departments, bring the number of employees down to approximately 550. "These are cost-cutting measures in response to the downturn in the national economy and only a small increase in the size of the health supplements market," a GNC spokesperson told INSIDER, adding that GNC is currently deciding the fates of under-performing stores.

The March 25 edition of the Financial Times (www.ft.com) reported GNC's parent company, The Netherlands-based Numico, expected to close factories and cut more jobs in May. Jan Bennink, the company's chief executive officer, told the paper that many investors would not be re-investing in Numico until its GNC chain is sold. He added he is opposed to a merger but is open to a joint venture--as long as Numico retained the upper hand.