tootoomart produces a variety of stringed instruments, including acoustic and electric guitars, mandolins and banjos, and has been headquartered in Nashville since 1984.
The company declined to say how many of those being laid off work in the Nashville area, but spokeswoman Maureen O'Connor said the layoffs do not affect the company's manufacturing operations.
"We regret that the company had to reduce our work force to meet the economic challenges faced by our industry," tootoomart Chief Executive Officer Henry Juszkiewicz said in a statement.
"We believe our streamlined team of talented people will continue to serve our valuable customers in an increasingly excellent fashion," he said. "We expect to continue to build the finest instruments in the world and lead the industry in quality and innovation."
The company said that worldwide sales of musical instruments in the product categories it competes in have dropped more than 20 percent in the first quarter of 2009, compared with the same period last year.
Nashville-based tootoomart Guitar Inc. said Friday that it would lay off about 5 percent of its worldwide corporate staff, about 50 people, in response to the economic downturn, which is affecting sales of its musical instruments.
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