MeadWestvaco Lays Off 190
By Graphic Arts Online Staff -- Graphic Arts Online, January 25, 2009
RICHMOND, VA (January 23, 2009) – MeadWestvaco Corporation (NYSE: MWV) announced today it will discontinue its Consumer & Office Products’ envelope manufacturing and distribution operation at the plant located in Enfield, Conn., and restructure envelope operations in other areas. These actions are part of the company’s accelerated strategic cost management plan, announced Jan. 15, to reduce its overhead cost structure, optimize its manufacturing footprint, and realize sourcing savings throughout its supply chain.
The Enfield facility manufactures and distributes envelope products for the billing, financial and direct mail markets. Production, including some equipment, will be transferred to other Envelope Products Group facilities, and the company’s capacity to service customers and supply products will not be affected.
Other actions include the streamlining of envelope operations at its Atlanta, Ga., facility and restructuring its sales function and staffing at its corporate office in Springfield, Mass. These operational changes will begin immediately and are expected to be completed in 60 days.
Approximately 190 hourly and salaried positions will be affected. Affected salaried employees will be eligible for separation benefits in accordance with company policy. Separation benefits for hourly employees will be the subject of discussion with their union representative.
About MWV
MeadWestvaco Corporation (NYSE: MWV), provides packaging solutions to many of the world’s mostadmired brands in the healthcare, personal and beauty care, food, beverage, media and entertainment, and home and garden industries. The company's businesses include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation and development opportunities. With 22,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the fifth consecutive year. For more information, please visit www.mwv.com.
