Catalyst Paper will cut 350 jobs by the end of the year. Looking to curtail costs, the companys board signed off o…
Catalyst Paper will cut 350 jobs by the end of the year. Looking to curtail costs, the companys board signed off on a $21.2 million restructuring program that will allow for the layoffs. Both union and staff positions will be eliminated.
Reductions of this nature will cause some hardship for affected employees, their families and the community, but they are part of the reality of improving our companys ability to compete under very tough industry conditions, said Ron Buchhorn, senior vice president of operations. We recently met with our Powell River union locals to discuss the rationale and timeline for downsizing, and we will continue to meet with them in the coming weeks as we move through the process.
Powell River will absorb $12.9 million of the cost-cutting measures, which translates to early retirement and severance packages for roughly 100 workers.
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