Layoffs expected at MyPillow as CEO launches new venture

Layoffs expected at MyPillow as CEO launches new venture Photo: Wikimedia Commons

May 10, 2019 11:00 AM

Layoffs are expected at MyPillow as the company's CEO plans to launch a new venture.

In a statement, Mike Lindell, the inventor and CEO of MyPillow, announced plans to launch MyStore.com. He described MyStore.com as an online store for business owners to sell their products.

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Because of the launch of the website, Lindell said the company would change the layout of its Shakopee factories.

Lindell said about 150 employees are expected to be laid off.

"I value each and every one of my employees so this is a difficult decision, however this is what is best right now for the future of MyPillow and to prepare for the launch of MyStore.com. Once MyStore is up and running, we anticipate we will be hiring," he said in a statement.