Supremex to cut workforce by 41 employees in its Canadian envelope facilities

Posted December 7, 2018
Supremex Inc. plans to reduce operating expenses at its Canadian envelope operations. Supremex is reducing its Canadian envelope facilities headcount by a total of 41 employees, or approximately 8% of its Canadian envelope workforce, as the company says in the press release received by Lesprom Network.

These measures will result in annual cost reductions of approximately $2.7 million, before taxes, which will progressively materialize in the current quarter and will take full effect in 2019. A one-time charge of approximately $1.4 million, before taxes, will be recorded in the company's 4Q 2018 results.

Supremex Inc. is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions.



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