Layoffs at Vermont Teddy Bear

Layoffs at the Vermont Teddy Bear company.

Company President Bill Shouldice tells WCAX News that in addition to seasonal employees who were let go following the holiday and Valentine's seasons, 11 regular full-time employees were also laid off.

Shouldice says they've seen 70% growth over the last seven years and at this time they're stopping to digest that growth.

He says they now have 110 full-time employees, which is in line with the number they had two years ago.