MeadWestvaco to cut up to 850 jobs

 

28 July 2005 – Stamford (CT): MeadWestvaco has announced that it will cut up to 850 jobs in the wake of its Q2 results, in which it posted a net loss of $83 million.

 

The company has developed a new business model that is expected to lower general and administrative costs by $200 million per year by 2007.