Even Playboy Bunnies Feels the Pinch

Playboy says it is closing its Manhattan offices

Monday, Mar 23, 2009  |  Updated 6:14 PM EDT
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Even Playboy Bunnies Feels the Pinch

Joe Corrigan/Getty Images

Playboy will close its New York City office on May 1.

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Playboy Enterprises is closing its Manhattan office and laying off employees as it struggles with falling advertising revenue and a gloomy economic climate.

     Company spokeswoman Martha Lindeman says Playboy employed about 100 people at the Fifth Avenue office in midtown. A majority of those jobs will be lost when the office is expected to close May 1.
    
Lindeman says some employees received letters notifying them that their jobs were eliminated. Others were given the chance to transfer to Chicago.
    
The Manhattan office is primarily involved in publishing and licensing work.
    
Playboy announced in February on a conference call that it would save $5 million annually by closing the office.
 

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