Cenveo Moves Impact Employees
STAMFORD, CT—Cenveo Inc. continues to implement cost-cutting measures aimed at restoring profitability to the once-venerable commercial printing franchise.
On February 17, Cenveo’s Centennial plant in Denver closed its doors, resulting in the loss of 90 jobs, according to a report in the Rocky Mountain News. The move comes on the heels of the company shuttering its envelope manufacturing facility, which resulted in 171 lost jobs. The newspaper said the move was part of a nationwide cost-cutting effort that is expected to claim 1,400 jobs.
The Arizona Republic also reported that two Cenveo sites in Phoenix (once called Imperial Litho & Dryography) were reducing head counts by a combined 164 jobs. The cuts will take place between April and June, the paper said, citing information from the Arizona Department of Economic Security.
It was not known if either Phoenix plant would be kept open.
As of press time, Cenveo had not confirmed any of the reports.
Bob Burton took over as chairman and CEO of Cenveo last September after a proxy battle over control of the company was narrowly averted.
In November, following the company’s report of a $97 million net loss, Burton deemed the performance unacceptable and vowed to quickly reverse the company’s fortunes. Among the changes, Burton sought to reduce the company’s overall cost structure by $75 million before the end of 2006.