IWCO Direct, a printer and direct mail services company, has closed its facility in Elm City, NC, laying off 380 employees.
The firm said it will transfer equipment and production operations to three other facilities in Minnesota.
The affected employees will be provided pay and benefits continuity and outplacement support or, in some cases, employment opportunities in its Minnesota operations, which will expand with approximately 250 new positions, according to IWCO.
“These are difficult actions we must take to aggressively and preemptively react to the industry-wide decline in volume,” said CEO Jim Andersen, in a statement. “We will navigate these market dynamics to continue to create exceptional value for our associates, customers, and business partners.”
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