Standard Adds Presses, Trims Workforce by 325-400
DAYTON, OH—Business forms, labels and digital specialist Standard Register has purchased eight Xerox iGen4 EXP presses and four HP Indigo digital presses. The firm has also implemented a strategic restructuring program, which will trim its workforce by 12-15 percent. This would represent as many as 400 workers being let go by September.
The Xerox machines are located in five Standard Register print centers across the country. The HP Indigo press 5500s were installed at each of Standard's print-on-demand (POD) hubs in Boston and Atlanta, and two HP Indigo 7500 digital presses at its Charlotte, NC, hub.
The program was initiated to better align the company's resources in support of its growing core solutions business and to reduce costs to offset the impact of declining revenue in its legacy operations. The initiative is expected to result in an estimated $45 million in annual savings.