Most recent news about American Apparel(NYSEMKT: APP) surrounds the high profile lawsuits against former CEO, Dov Charney. According to CNN Money, the brand is looking to make some major changes to save its business. The band announced that over the next 18 months $30 million in cost cutting will take place through store closings and layoffs. American Apparel did not mention how any of the 239 locations will be closing or how many of its 10,000 workers will be losing their jobs, but CNN Money reports that the brand plans to close stores in underperforming locations with over-saturated markets. "We are committed to turning this company around," Paula Schneider, the current CEO told CNN Money. Schneider also states that the company is planning a slight image change by making ads less sexual and adding more family images to advertisements. American Apparel knows that even with cost-cutting and a boost in revenue, it may still have try and raise additional capital over the next year, as its stock and sales continues to drop. For more business and financial news, click here.