Intermix Cuts Back

(NEW YORK) Luxury retailer Intermix is among those feeling the effects of the recession. The Daily has learned that in addition to scaling back on staff headcount, the company has cut salaries of all employees (including those in corporate positions) by 18%. In a store meeting last week, Intermix owners Haro and Khajak Keledjian announced that they would not be closing any of the company's over 20 stores. Instead, they will cut back on buying orders and company spending--meaning no annual holiday party this season.