Quebecor World Inc., the Montreal-based printing giant, reported net income of $70.8 million for the quarter ended Sept. 30, 20% down from $88.7 million in the year-earlier period.
Revenue for the quarter dropped 1% to $1.62 billion from $1.63 billion for he same period in 2000.
Earlier this month, the company said it would cut as many as 2,400 jobs–6% of its workforce–as well as close seven of its 160 plants because of the worldwide economic slowdown and the Sept. 11 terrorist attacks. (DIRECT Newsline, Oct., 11).
