Layoffs Part of Presstek’s Improvement Plan
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HUDSON, NH—Presstek has unveiled a business improvement plan that targets $20 million in annual operating profit improvements. Of that total, $10 million will be saved via operating expense reductions, including a 9 percent cut in its workforce.
Operating expense reductions will also include the centralization of North American product warehousing and distribution activities at its Des Plaines, IL, location. Certain customer care activities will be consolidated into its headquarters here.
Gross margin improvements of $10 million include manufacturing productivity improvements, procurement savings, service business rationalization and improved recovery of raw material cost increases.