Quebecor World Announces 1,000 Job Cuts, Sales Losses

The job cuts will cost the company about $26 million, while another $48 million in charges is largely related to the write down of idle and under-performing—partly as a result of the layoffs—assets across Quebecor World's global network. "Fewer jobs meant facilities were unused or underused," Helie notes. "In effect, we are putting our house in order."