Downsizing of the forest industry continues in early 2009 with more cutbacks and mill shutdowns.
Tembec cuts 100 more jobs, slashes spending in cost-reduction plan
Forestry firm Tembec is cutting 100 more jobs and clamping down on spending under a sweeping cost-reduction plan.
Tembec says it has frozen all salaries for 2009, will reduce travel expenses and is reviewing its participation in associations and research institutes.
The company has already announced plans to lay off nearly half of its workforce as it shuts mills in British Columbia, Manitoba and Ontario.
Tembec says it is dealing with "extraordinary" times in the pulp and paper industry, which has been bogged down by depressed markets for lumber, pulp and newsprint amid the widespread economic slowdown.
About 3,400 of the company's 7,000 workers have been idled in earlier plant closures and workforce cuts.
-----------
No comments:
Post a Comment