BUSINESS BRIEFING / GREETING CARDS
Times Wire Reports
Hallmark Cards Inc. is cutting as many as 750 jobs, or 8% of its U.S. workforce, as the nation’s largest greeting cards maker struggles with falling sales.
The Kansas City, Mo., company told employees that it would make the cuts over the next six months.
Hallmark’s total U.S. workforce, excluding subsidiaries such as Crayola of Easton, Pa., is around 9,200.
The bulk of the cuts are coming from manufacturing and distribution. About 200 to 250 jobs will be cut from Hallmark’s headquarters.
The company reported last month that 2008 sales fell 2% to $4.3 billion as the recession cut into consumer spending.
