Hugh Hefner 'stripping back' Playboy bunnies following credit crunch

London, Sept 25 : Playboy mogul Hugh Hefner is reportedly sacking some of his bunnies - because of the credit crunch.

According to reports, the tycoon's multi-million dollar company has been hit by the global banking crisis, which has led Playboy share prices to drop from 6.20 pounds to 1.55 pounds.

In order to save his empire from crashing, the 83-year-old is expected to execute mass sackings in his Los Angeles and New York offices this month.

"Only the top brass has known for a while how bad things have been for Hef recently," The Daily Star quoted an insider, as saying.

However, spokeswoman Elizabeth Austin did not confirm the sackings, saying: "It is our policy not to comment on corporate matters such as employee issues."

The news come in line with allegations that two of Hefner's top bunnies - Holly Madison and Kendra Wilson - have been cheating on him.

While Holly was snapped getting cosy with magician Criss Angel, Kendra, is reportedly dating football star Hank Baskett.

"The rumours that Holly left Hef for Criss Angel are not true. Holly and Kendra are all still living at the Mansion," said another Playboy spokesman Rob Hillburger.

ANI