Let The Layoffs Begin
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"Even in the current economic environment, we are satisfied with the progress we've made in repositioning R.R. Donnelley," states William L. Davis, chairman, president and CEO. "We have the resources and strong cash flow to manage and execute through this environment."
The latest move by Bowne & Co. is in addition to the $20 million cost-reduction initiatives that it announced in January. The company cited the rapid deterioration of the Internet consulting market and customer delays/cancellations as the motivating factors in shutting down Immersant.
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