Playboy bunnies feeling the financial squeeze

You know the credit crunch is really starting to bite when news comes through about potential redundancies in the Playboy empire…

Whilst the world’s bankers (and therefore the rest of us) are sweating on the results of negotiations over the Paulson bailout, the Telegraph has breaking news from Hugh Hefner’s Playboy business.

An 80% fall in the Playboy share price and rumours of impending bankruptcy have forced the 83-year-old tycoon to look to lay off some of his staff at his Los Angeles and New York offices.

It is not clear whether the attempts to reduce overheads extend to employees at Hefner’s Playboy mansion. In the interests of keeping business teachers and students in the loop, I may suggest that I hop over there and find out more about the cost-cutting options.