Layoffs Reported at Franklin Mint

Collectibles DMer Franklin Mint notified 200 employees yesterday that they are about to be downsized as part of a general restructuring.

The company plans to develop a smaller business based on product development and marketing, according to The Philadelphia Inquirer.

Many employees were told to vacate yesterday, the Inquirer reported.

Franklin Mint was founded in 1963 by Joel Segal, who later founded the QVC shopping network.