Quad/Graphics Inc. CEO Joel Quadracci announced Wednesday, in a press release, that the company will be closing two plants due to weak third quarter performance. “We are taking swift and decisive action to address the volume and pricing pressures, and are announcing a $100 million cost reduction program to bring our cost structure in line with revenues” Quadracci said.
The Effingham Plant will not be impacted by the reductions. The two plants that will be closed are located in Augusta, GA and Greenville, PA. In total the plants employ around 650 workers. The company will help to relocate workers from the closed plants who are able to move. Quadracci said that both plants will be closed by the end of the year.
Quad/Graphics Inc. Operates 57 plants in the U.S. and employs around 24,000 people worldwide. As of now, the company has not announced any plans to close more plants in the future.