8 November 2017
Vistaprint plans layoffs
Canada's second largest printer
Canada's second largest printer
  Vistaprint plans to reduce it's headcount and cost reductions to be largely implemented over the coming two months and believes they will reduce fiscal year 2018 operating expenses by between $20 million and $22 million. The company expects to take a restructuring charge of approximately $15 million to $17 million during the quarter ending December 31, 2017, but  expect net savings for the full fiscal year 2018
Parent company of Vistaprint
Parent company of Vistaprint
Keane President and CEO said, ". following more than six months of experience with their newly integrated organization, the Vistaprint leadership team has taken the difficult but appropriate decision to reorganize the business. These changes will reduce headcount and other operating costs, but also simplify and streamline operations and more closely align functions to increase the speed of execution. We believe these changes will improve the steady-state free cash flow of this business and, importantly, free up capital to reinvest in other areas of Vistaprint that provide the greatest benefit to our customers and our long-term shareholders."
1. Observer says:
14 November 2017 at 12:24 AM
How things have changed. The once mighty run into problems.
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