By late September, Transcontinental will transfer state-of-the-art equipment from Transcontinental Litho Acme to Transcontinental Direct Montreal. Production teams from the two units will be combined at Transcontinental Direct Montreal, and the estimating, sales and marketing teams will be located at 85 Castelnau West in Montreal.
The 30 jobs cut represent a nearly ten percent cut of the the total workforce. All will receive settlement packages and out-placement services to help them quickly find new jobs.
Transcontinental's Patrice Lacoste, senior vice-president, marketing products group is positive about the changes.
"This new stage in the lives of Transcontinental Litho Acme and Transcontinental Direct Montreal fits in well with Transcontinental's development plan. With this move, customers will have access to a fully integrated service offering, enhanced expertise and the increased synergies obtained by combining the best assets and people of our two facilities,"
In afternoon trading on the TSE, Transcontinental shares gained five cents to $13.30.
