Quebecor Shuts 7 Plants, Blames Sept. 11 Terrorist Attacks

Share this content:
Quebecor World is closing seven plants and cutting 2,400 jobs -- 6 percent of its work force -- because of a severe economic slowdown following the Sept. 11 terrorist attacks.


The layoffs will cut into the printing giant's global work force of 40,000 people who work in facilities in the United States, Canada, Europe, Latin America and India. The locations were not disclosed yesterday because the employees being let go had not received their layoff notices.


The Montreal-based company also said profits would be 15 percent lower than expected in the third quarter. The revised estimate results mostly from a slowing demand for printed products in the United States and Europe because of an overall economic slowdown and a drop in advertising spending, a statement by the firm said.


The company, controlled by multimedia giant Quebecor Inc., expects to save about $28.8 million annually with the closings. The printer still will have around 160 plants in operation.


Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here