Quebecor World Announces Intention to Reduce UK Workforce
Press release from the issuing company
MONTREAL--Dec. 13, 2004-- Quebecor World Inc. announced today that it has entered into discussions with its employees' representatives at its facility in Corby, England with the intention of reducing its workforce. As required by law, Quebecor World and its employees' representatives have begun a 90-day consultation period. Quebecor World is rationalizing its Corby operations because of a reduction in volume that is related to a previously announced non-renewal of an important contract. In addition, the restructuring efforts will likely result in the idling of selected equipment while replacement volume is being secured.
Quebecor World remains committed to the UK market and will continue to provide its customers with the highest level of service. The Company will have no further comment on the extent of the workforce reductions until it has concluded discussions with its employees' representatives.
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