Cleveland.com reports that greeting cards giant American Greetings plans to close 60 stores and cut 200 jobs. The stores being closed will include American Greetings, Carlton Cards and Gorant stores. Cleveland.com says American Greetings also made cuts just a month ago.
This latest round of cuts comes a month after American Greetings shed 275 workers, including 175 at its headquarters, from its global work force of 18,000.
The maker of greeting cards and other social expressions products had warned last month that it would be closing the 60 stores, twice as many as initially planned, because of weakening sales and a worsening economy.
The company reported losses of $193 million for the third quarter and a 6.8-percent drop in sales at stores that had been open at least a year.
American Greetings is also still trying to sell its Strawberry Shortcake, Care Bears and Sushi Pack characters. They have also been seeking to acquire rival Recycled Paper Greetings.
