Finch Paper cutting 15% of salaried employees

Jan 30, 2009. /Lesprom.com/. Finch Paper LLC, a paper mill in Glens Falls, has laid off 15% of its salaried employees as it faces falling demand for its products. The cuts mean that 43 of Finch Paper’s 278 salaried jobs have been eliminated, said according to the article on the The Business Review (Albany). “Not only does the national economy show no sign of immediate recovery, but we are faced with the deepening reality that the very structure of the global paper market has been irrevocably altered,” said Richard Carota, company Chairman, President and CEO. “We are fighting to make sure that Finch Paper continues to be one of the survivors.” The job cuts include supervisors, manufacturing staff, sales representatives and administrative positions. The company now employs 790 people; 71% of them are hourly employees. The cuts are permanent, unlike the temporary layoffs that the privately held company conducted in November 2008. That month, Finch Paper laid off at least 44 workers and cut production levels by an unspecified amount. Carota said “a number of hourly and salaried employees” were laid off at that time. He said Finch Paper returned to full production levels in December 2008, and those who were temporarily laid off went back to work. The company produces 250 thousand tons of printing paper each year. Finch Paper’s key customers include those in the direct mailing, marketing and catalog businesses.