Jostens Inc., Minneapolis, MN, the leading provider of graduation-related products such as yearbooks and class rings in addition to reward products for corporations, announced yesterday a change in internal structure, including the elimination of Jostens Direct, its direct mail marketing to college alumni.
It said it will continue to service that market in other ways, but did not offer details.
The company will eliminate 100 full-time employees, primarily those in corporate positions, and plans to look into strategic alternatives, such as partnerships and alliances, for its Recognition segment, a division designed to provide companies with programs to recognize employee service. Jostens also announced yesterday that it has been acquired by a company controlled by Investcorp, a global investment group that has taken over such companies as Tiffany & Co. and Gucci.
