Am I Next? Layoffs at Iconex.

Duluth, Georgia-based Iconex, a paper converter and manufacturers of transaction receipts and specialized labels, has announced that they will be closing their facility in West Chester, Ohio and laying off 67 employees. It is believed that this is part of a normal restructuring as the company, already a market leader in North America, continues to expand operations in Europe by acquisition. The company recently reported that several factors continue to impact their business including raw materials (leuco dyes, and pulp), transportation costs, and Chinese tariffs on chemicals used for thermal paper production.

According to CEO, Craig Gunckel, “While we are less certain about a potential price increase, we are not seeing any significant cost relief in the first half of 2019 that would drive paper prices lower.”

Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?