Quad Graphics has announced that they will be laying off 200 people when their Taunton facility is shuttered in early 2018. With the explosion of internet marketing, electronic forms, and e-books, the traditional book, catalog, and retail advertising printers are struggling mightily. Top tier printers have gone so far as to separate business functions into new entities to capture any rise in Wall Street valuations.
Quad Graphic’s happy talk continues as evidenced by this blurb accompanying their Third Quarter earnings announcement.
“Our third quarter results were in-line with our expectations, reflecting the continued great work our team is doing to sustainably reduce costs, win profitable new work and expand relationships with existing clients,” said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. “Through our consistent, disciplined approach to managing all aspects of our business, we remain the industry’s high-quality, low-cost producer. Our sales momentum, which includes securing exclusive multi-year, multi-million-dollar contracts with premier publishers, retailers and marketers, will fuel Quad/Graphics’ ongoing strategic transformation to expand our integrated marketing services platform, which helps brand owners improve both process efficiencies and marketing spend effectiveness. In Quad 3.0 we are transforming into a marketing services provider that helps brand owners market their products, services, and content more efficiently and effectively. This transformation creates significant value for our clients by addressing their urgent marketing needs.”
These type of layoffs reflect the normal ebb and flow of business and represent a permanent risk to employees who believe today will be the same as yesterday, and tommorow will be the same as today.