Quebecor World’s Problems Continue
MONTREAL—Happy days continue to elude one of North America’s biggest commercial printers.
Quebecor World announced that it lost (US) $6 million (four cents per share) for the first quarter after posting a profit of $6.5 million for the same period last year. The company also expects to cut a total of 756 jobs in 2006.
In addition, the company announced it was taking legal action against the Teamsters. It filed a complaint in Chicago Federal District Court, alleging that the International Brotherhood of Teamsters and its Graphic Communications Conference (GCC) violated a neutrality and organizing agreement in making negative and adversarial statements about Quebecor World to company employees.
The complaint maintains that certain written statements made by the unions are both untrue and libelous.