NEW YORK (From news reports) -- Quad Graphics has notified their employees the Saratoga Springs, NY plant will be closing on or before May 4th, leaving 450 employees out of work. Quad was once the largest employer in Saratoga County.
The company cited lack of volume and soaring postal costs among their reasons for the closure. Quad printed several magazines, including Businessweek, Time, Sports Illustrated, and People, catalogs, and direct mail advertising, all of which have taken hits with the trend towards internet and digital format reading and advertising.
Quad went public in 2010 with an initial public offering. The company has 50 printing facilities in 14 countries, including in Europe, Canada, India, and Latin America, with the majority in the United States.
"Client work produced at the Saratoga Springs will be transferred to other Quad locations, including Hartford, Little Rock and Springfield," the company said.
#pulpandpaper
|
