Leominster packaging plant to close, lay off 60
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Quad/Graphics Inc. facility in Leominster
Wisconsin-based packaging firm Quad/Graphics Inc. will close its Leominster Packaging plant by April 29, resulting in approximately 60 layoffs.
“The decision to close the facility is part of Quad’s comprehensive strategy to optimize its North American packaging platform for continued growth,” the company said in a Wednesday press release.
Quad is offering impacted employees a comprehensive separation package including pay, continuation of healthcare benefits, and career transition assistance through a career counseling company, according to the statement.
The company’s assets at the plant and the work done there will be transitioned to packaging facilities in Franklin, Wisconsin, and Spartanburg, South Carolina. Quad will provide incentives for skilled employees to relocate to Spartanburg or Franklin, according to the release.
The packaging-printing facility 27 Nashua St. was acquired by Quad in 2010 as part of the $1.3-billion acquisition of Canadian rival World Color Press. The company leases the 95,000-square-foot plant.
In addition Leominster, the company is closing a facility in Merced, Calif., resulting in approximately 240 layoffs according to the Merced Sun-Star.
Quad trades on the New York Stock Exchange, with a market capitalization of more than $205 million as of Monday morning. The company employs approximately 15,000 people worldwide across 45 facilities.
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