The Greater Richmond Chamber of Commerce is not immune from the economic slowdown.
The Chamber, a not-for-profit organization which relies upon revenue from events and memberships, has laid off four full-time employees and one part-time employee.
“We are reducing our costs in reaction to pressure on revenue from the economic situation,” said Manson Boze, senior vice president of the Chamber.
Boze would not say which positions were cut.
Most of the cuts will go into effect at the end of this week, with one hanging on until the end of the month, Boze said. After the cuts, he Chamber will retain 31 full-time employees.
For 2007, revenue at the chamber was $4.8 million, according to paperwork filed with the IRS. Expenses were $4.6 million, of which salaries were $1.8 million; or 52 percent.
Income from events totaled $2.4 million.