The Philadelphia Business Journal is reporting that Franklin Electronic Publishers Inc. President and CEO Barry Lipsky laid-off 10% of it's workforce in May.

"The news came as the company announced its quarterly and annual earnings figures. A company spokeswoman said all of the job cuts were at the company's South Jersey operations but the company was not providing the exact number of layoffs. Franklin, which has international operations, had 177 full-time employees when it filed its fiscal 2007 annual report last year."