Cornerstone’s casket sales will drop to 3,000 items as it attempts to expand its operations in the new Northeast and Midwest markets.
The company announced Thursday that it will cut its full-time workforce by 5 percent, or more than 20 employees.
That’s the largest layoff in the company’s history, as it’s closing stores in the Northeast and the Midwest.
The company also plans to sell off inventory, and expects to make money on some of the inventory it sells.
The sales decline will help the company get its feet under it and get its cash flow back on track, Cornerstone Chief Executive Officer Steve Pendergast said in a statement.