You're watching...

Martha Stewart Living to Lay Off 12% of Workers

Details

This transcript is automatically generated

Mercedes-Benz dealer.

I'm Tracy -- and your -- business -- Wall Street drifting lower in afternoon trading slightly stronger than expected report on the US labor market.

-- now the Dow is down about 27 points.

Shares of Martha Stewart Living also slipping along with the broader market.

Just a day after announcing it's taking steps to cut costs the company says the declining value of the publishing business.

And drop an ad revenues widens its third quarter loss the company plans to lay off 12% of its nearly 600 person staff.

To steadily losing money since 2007.

-- hardware also lower on its return as a publicly traded company.

The furniture retailer began trading today -- the New York Stock Exchange after pricing just over five point one million shares.

The high end of their -- -- that 24 dollars each raising 124.

Million dollars.

-- please from the Fox Business Network giving -- that power prospered.