Lulu.com laying off 2 dozen workers in NC

RALEIGH -- Online book publisher Lulu.com says it's laying off 24 workers at its North Carolina plant because of the slowing economy. The company has about 100 employees. The News & Observer of Raleigh reported Thursday Lulu plans to move its headquarters from Morrisville to Raleigh, probably by the beginning of next year. The newspaper reported that the president Lulu hired last year, Bryce Boothby Jr., was among those let go. Founder and Chief Executive Bob Young said the company needed to reign in expenses in the current credit and capital markets. Young has assumed more oversight of daily operations. He was previously CEO of Raleigh-based software company Red Hat. Spokeswoman Gail Jordan says the company will provide severance and job-placement help for workers who are losing their jobs. (Copyright 2008 by The Associated Press. All Rights Reserved.)