Banta to axe 500 jobs

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14 September 2006 — Menasha (WIS): Banta plans to axe 500 jobs, six percent of its workforce, resulting from the closure of five printing plants in a bid to increase productivity.

Total annual cost savings from the restructuring plans are expected to reach around $35 million by 2008, with $27 million in savings expected in 2007.

 

Banta is currently the target of an unsolicited $47 per share takeover bid from Cenveo.