September 04, 1998
Deluxe Cuts Could Affect DM Unit
The 600 to 1,000 job cuts planned by Deluxe Corp., St. Paul, MN, over the next 18 months as part of its initiative to reduce selling, general and administrative costs by $100 million could affect personnel in the Deluxe Direct Response unit, company spokesman Stuart Alexander said this week. The cuts originally were announced in July as part of an overall reduction of 3,500 jobs from a worldwide work force of 19,000. Divestitures of two business units -- Current Social Expressions and Paper Direct -- will eliminate 1,200 jobs while 1,300 positions will be lost to consolidation. Deluxe also sold Deluxe Card Services, its credit- and debit-card production unit that was part of Deluxe Direct Response, to Fiserv Inc., Brookfield, WI, on Aug. 31 for an undisclosed amount.