Layoff Totals for US Companies Message Board

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From: peppe51	1/13/2009 9:56:02 AM
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550...MILWAUKEE (AP) - The 550 layoffs at Quad/Graphics shows how deep the economic recession is and its reach on even the healthiest of companies, Gov. Jim Doyle said Monday. "Companies that were talking about growing and expanding as late as August and even early September are - now as you see with Quad/Graphics - having to contract and lay people off," Doyle said. The nation’s third largest commercial printer announced Monday that 400 jobs would be lost in Wisconsin alone. The 550 layoffs represent 5.6 percent of the Sussex-based company’s work force. "This is a strategic move," said Joel Quadracci, president and chief executive officer, in a statement. "Quad/Graphics continues to have industry-leading profit margins, and because we have maintained our investment grade credit quality, we have plenty of access to capital markets that will ensure our strong position within the industry for a long time." thenorthwestern.com

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