Ahead of its Q2 earnings report in August, Playboy Enterprises (NYSE: PLA) is warning investors that it will take a $3 million charge resulting from additional layoffs. The number of Playboy’s roughly 782 total staffers who are being dismissed wasn’t specified. In a statement, CEO Scott Flanders said that the company is continuing to restructure. Last November, Playboy handed off management of its flagship magazine’s business functions to American Media.
The goal right now is to “transition Playboy to a brand management company” as a way to refocus the company and lower costs. In the meantime, the company is continuing to work on its safe-for-work site TheSmokingJacket.com, which is expected to go fully live this summer. Release