GIBSON RESTRUCTURING; WILL LAY OFF 480 WORKERS BY '99

CINCINNATI -- In a major restructuring, Gibson Greetings here announced it will lay off approximately 480 employees, including hourly and production supervisors, and office and administrative workers, by early 1999.$30 to $35 million over the next few years in upgrading its existing management information systems.Gibson expects these changes to generate savings of approximately $10 million annually

CINCINNATI -- In a major restructuring, Gibson Greetings here announced it will lay off approximately 480 employees, including hourly and production supervisors, and office and administrative workers, by early 1999.

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