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American Vantage Companies (OTCBB: AVCS.PK) said Monday it cut its full-time recruitment staff at its Candidates on Demand Group Inc. subsidiary. American Vantage also announced the closure of Candidates on Demand's North Palm Beach FL, Dallas and Lyndhurst NJ offices.
In addition, the company said its COD Consulting Services Inc. staffing division is inactive, but that the company will continue with a focus on staffing for the gaming and hospitality industries. Also, the restructuring won't affect the company's DealSplit Inc. division.
"With the 2008 changes in the U.S. economy and the resultant impact on hiring across the U.S. and internationally, from mid-year we had been taking proactive steps at COD to radically decrease recruitment services costs and had previously closed other offices," said Paul Buonaiuto, CEO of the Candidates on Demand Group. "However, with no foreseeable change in the state of the economy, it was with deep regret that we determined it was necessary to make much deeper changes to our recruitment operations."