Brooklyn-based American Greetings posted a painful loss for the last three months. The greeting cardmaker blamed a $50 million dollar loss last quarter in part on a tough market and tight sales. The company also took charges related to cost cutting measures - like cutting 275 jobs, 175 of those were local jobs. Earlier this month the company announced it sold off all of its retail stores.
News
To contact us with news tips, story ideas or other related information, e-mail newsstaff@ideastream.org.