Quad to Close Two Facilities as Printing Industry Struggles.

[jim]

Quad to Close Two Facilities as Printing Industry Struggles.
Quad, a leading printing company in the U.S. and Canada, announced that it will close two of its facilities in the first half of 2024, affecting about 510 workers. The company cited the decline of certain print segments, such as newsweeklies, and the increase in postal costs as the main reasons for the closures.

The facilities that will be shut down are in Saratoga Springs, New York, and Bolingbrook, Illinois. The Saratoga Springs facility, which has about 435 employees, was built in 1984 for newsweekly magazine production. The Bolingbrook facility, which has about 75 employees, is a mail processing center. The work currently performed in these facilities will be transferred to other Quad locations.

Quad is not the only printing company that has faced challenges in the past year. The COVID-19 pandemic has accelerated the decline of print demand and revenue, especially in segments such as retail, travel, and entertainment. According to the Printing Impressions 300 list of the largest printing companies in the U.S. and Canada, many companies reported double-digit annual revenue drops in 2020.

However, some printing companies have also found opportunities to grow and diversify their offerings, such as wide-format digital printing, labels and packaging, mailing and fulfillment, data management, and other services. Quad, for example, has invested in its e-commerce platform, Quad Direct, which enables online ordering and fulfillment of print products.

Quad’s CEO Joel Quadracci said in a statement that the company remains committed to its long-term strategy of transforming its business and creating value for its clients, employees, and shareholders. He also expressed his gratitude and appreciation to the employees affected by the closures and said that the company will provide them with transition assistance and severance benefits.

[Author]

January 23, 2024 at 3:52 PM