Standard Register Unveils Renewal Plan
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The layoffs are part of the restructuring segment of the plan, and includes reducing production capacity by roughly 30 percent. In restructuring the business, Standard Register expects to see revenue reductions of 18 percent to 20 percent ($235 million to $300 million) of low-margin business.
In order to support these actions, the company will take a first quarter 2001 restructuring charge of $109 million. The actions are expected to result in $125 million in annual cost savings.
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- Companies:
- Standard Register
- People:
- Dennis Rediker CEO
- Rediker
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