Economy, Lost Jobs Prompt Transcontinental Cuts

As a result of customers dialing back on their spending, commercial printing jobs, direct mail projects and magazine advertising placements have been cancelled or postponed by companies impacted by the recession.

“It’s a difficult situation for everyone affected, but we are acting in the interests of all of our employees and our shareholders,” said François Olivier, president and CEO of Transcontinental. “In the short term, this rationalization comes at a cost but, in the medium term, it will protect the corporation’s financial health.”