Bowne Cuts 1,000 Jobs In 2008December 2008
Dave Shea, chairman and CEO, said the company will save $70 million annually as a result of the cutbacks.
“Although the current environment is very challenging, we’re confident that the changes we’ve implemented will position us as an even stronger, more flexible company in the future,” he noted.
Bowne’s 2008 third quarter revenues were $164 million, down $17.7 million from the same period the previous year. Gross profit fell to $42.1 million for the third quarter, down from $63.1 million in Q3 2007.