Reader's Digest Cuts 30 Jobs in Greendale

is cutting about 30 jobs in Greendale, said a spokesperson.

Reader's Digest is now left with 250 employees at the Greendale location. originally had about 500 employees when Reader's Digest bought the company in 2002, according to a Milwaukee Journal Sentinel article.

The company went into bankruptcy in August 2009 and emerged in February 2010 with lenders forgiving $1.6 billion in debt in exchange for some ownership. However, Between January and February of this year the company has lost $339 million.

Gary Davis, spokesperson for Reader's Digest, wrote in an e-mail that the company will focus more on master brands that have the greatest potential to grow, such as Reader's Digest, Taste of Home and The Family Handyman.

Recently the company sold off Every Day with Rachel Ray and close World Wide Country Tours because they did not fit their strategy.

"We are evaluating exiting businesses which are not strategic and/or profitable, reducing our cost structure and identifying operating efficiencies," Davis wrote.

All the employees that were let go reside in the Milwaukee area.