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Callaway to announce job cuts

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Callaway Golf will reportedly announce cuts of up to 10 percent of its total workforce on Wednesday after the stock market closes, according to Golfweek.

The total reduction will number 150-170 employees, mostly in North America. Others will shift to different roles in the company. The full plan will be outlined as the company announces revised revenue for the second fiscal quarter. 

The cuts were instituted by new chief executive Chip Brewer as a cost-cutting measure. The clubmaker lost $171.8 million in 2011, following a loss of $18.8 million in 2010.

Brewer was hired as president and CEO on March 5, leaving Adams Golf to take the job.