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Bowne Reducing Workforce by 10 Percent
Nov 14, 2008
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Nov 14, 2008 Bowne Reducing Workforce by 10 Percent - ---------------------------------------------------------- NEW YORK—With a sharp year-over-year decline in revenue and profit due to difficult capital markets, Bowne & Co. announced it will reduce its workforce by 10 percent to provide cost savings of $21-$23 million. The cuts bring Bowne's total to 1,000 lost jobs in 2008, representing 24 percent of its workforce. Dave Shea, chairman and CEO, said the company will save $70 million annually as a result of the cutbacks. View more at... http://www.piworld.com/article/bowne-reducing-workforce-10-percent-400621_1.html ----------------------------------------------------------
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PI Weekly 11/14/08
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Companies Mentioned:
Bowne & Co.
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