Oxford Pennant, which designs and makes wool felt pennants, flags and banners, has cut 22% of its workforce.
The Buffalo company said it laid off six full-time and six part-time workers. Oxford Pennant still has a workforce of 43 employees.
“Oxford Pennant has made the difficult decision to downsize, including a reduction in workforce, in order to ensure the long-term viability of the company,” Oxford said in a statement. “We recognize the difficult impact this has on the affected employees and their families. This decision was made after careful consideration of economic conditions to position Oxford and our remaining employees for future success.”
Oxford Pennant recently consolidated its local operations into a single location, at 810 Main St., where Oxford Pennant has a 12,000 square foot manufacturing facility. The company closed its other location, at 731 Main St.
Oxford Pennant’s website promotes licensed merchandise featuring the National Hockey League, Sesame Street, Star Wars and the Rolling Stones. The company is also selling products tied into the upcoming solar eclipse.
Oxford Pennant was founded in 2013 by David Horesh and Brett Mikoll.
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