Quebecor World Announces 1,000 Job Cuts, Sales Losses

Quebecor World estimated the restructuring will result in annual savings of $36 million, of which half will be realized this year. "These challenging economic times demand rigorous financial management at every level of our operations," says CEO Jean Neveu. "The measures we are announcing demonstrate our new management's firm resolve to deal with the current competitive environment while setting a clear course for the future," Neveu adds.