Playboy ( PLA) set plans Wednesday to cut 30 editorial and programming jobs in a bid to slash costs by $4.5 million.

The Chicago-based porn shop said it expects to lose 10 to 13 cents a share for the second quarter, including a 6-cent restructuring charge tied to the firings. Playboy said roughly half the jobs to be eliminated are open.

Shares rose 21 cents Wednesday to $9.76.