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The E-Sylum: Volume 6, Number 49, November 16, 2003, Article 17 FRANKLIN MINT LAYOFFS A November 13th article in The Daily Times of Delaware County, Pennsylvania noted that "... up to 300 Franklin Mint employees could lose their jobs in a restructuring that will transform the company to an Internet and wholesale business, according to officials. Workers were asked yesterday to pack up their belongings and go home with pay, according to mint spokesman Howard Lucker. He said they will return over the next few days to discuss their transition out of the company. "We are going to have some layoffs over the next several months," he said. "We are developing a new, smaller business focusing on product development and marketing." "Despite popularity and revenues in the millions, the business has been faltering for some time. Layoffs have been announced three times since 1999 and the facility, that once employed 1,500 full-time workers, as of Tuesday employed only 300." "Everyone right there now is crying," a Bethel resident who works in the mint?s collections department said. But, she added, the move wasn?t a total surprise. "Every year before Christmas, it?s always the way it was," she said. "Here comes the layoffs." http://www.zwire.com/site/news.cfm?BRD=1675&dept_id=18171&newsid=10505907&PAG=461&rfi=9 A followup article titled "Ex-mint workers ponder prospects" was published November 14. "I can?t think of anything negative to say about the Franklin Mint, except, the owners I?m not too happy with right now," she said. "But, I understand they do what they have to do." "It?s kind of," Rogalski said, "an end of an era." http://www.delcotimes.com/site/news.cfm?BRD=1675&dept_id=18171&newsid=10512951&PAG=461&rfi=9 The history of The Franklin Mint was chronicled in the June 2003 issue of COINage Magazine. Wayne Homren, Editor The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org. To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@coinlibrary.com To subscribe go to: https://my.binhost.com/lists/listinfo/esylum | |
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