Ways to Fight Economic BS --Morgan
If your company is experiencing layoffs, you are not alone. According to the U.S. Bureau of Labor Statistics, there were 38,000 mass layoff events in the graphic arts industry in January of 2009. Here’s just a random sampling of companies that have reported their struggles in recent press releases:
Due to the decline of fine paper orders, Domtar Corp. is cutting 185 employees and shutting down a fine paper production unit at its Plymouth, NC, mill. This will result in a decrease of 293,000 short tons of the mill’s uncoated freesheet production capacity.
Kodak is cutting more than 3,500 jobs in 2009—more than 14 percent of its workforce. The company posted a $137 million, fourth-quarter loss on plunging sales of both digital and film-based photography products, and its stock is now at its lowest level in more than 40 years.
Transcontinental Inc., a commercial printer and newspaper publisher, is cutting 1,500 jobs (10 percent) of its North American workforce and is reducing costs to deal with the stress on its business caused by the recession.
Established in 1859, the first newspaper in Denver before the city was even founded, the Rocky Mountain News, is no more. This has left 225 people out of work, and the people of Denver with only one local newspaper to read.
So what can we do about all of this negative news? Here’s what print buyers are doing to save their organizations—and printers may benefit from doing the same.
Remain focused on what you can control. Feeling the pinch? This is not a time to shrug your shoulders and give up due to external forces affecting your business. While your competitors are decreasing their marketing efforts, you can choose to capitalize on your company’s brand instead. Now is the time to shout as loud as possible from the rooftops all that you have to offer, since your voice will be amplified without the competitive clutter.