Claude Helie

MONTREAL—Quebecor World revealed plans to cut 1,000 jobs from its worldwide operations after the company lost $62 million in its second quarter. The loss includes write downs and restructuring charges of $82 million for the quarter. In 2002, Quebecor World had earnings of $64 million in the second quarter. The restructuring reflects the continued weakness of the printing industry in all of Quebecor World's markets, says Claude Helie, CFO. Helie revealed that three quarters of the affected employees were already gone at the time of the announcement. The majority of the job cuts came from the company's U.S. operations. The job cuts will cost the company

MONTREAL—Michel Desbiens has been tapped to head Quebecor World as CEO, replacing long-time chief executive Charles G. Cavell, who first announced his retirement late last year. Desbiens is best known in the industry as the former president and CEO of Donohue, a position he held until the company was sold to Abitibi Consolidated in 2000. Desbiens joined Quebecor World as a director in April 2002 and was named CEO of international operations in November 2002. His appointment was widely expected after Cavell announced that he planned to retire later this month. Desbiens has a long history in the industry and his leadership at Donohue reportedly brought him