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MWV Trims Workforce – Zacks Tale of the Tape

Source: http://www.zacks.com/stock/news/16833/MWV+Trims+Workforce+-+Zacks+Tale+of+the+Tape
 Posted on Thursday, January 15th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -

The harsh impact of the U.S recession did not spare MeadWestvaco Corp. (MWV) as the plastic and cardboard packaging products manufacturer now aims to shed 10% of its workforce or 2,000 jobs.

The company plans to complete 800 of the workforce reductions by the end of the first quarter. MeadWestvaco also declared that it aims to close or streamline 12 to 14 of its manufacturing units. The company is also planning to make cost savings of $100 million in 2009 by cutting back on corporate as well as business unit overhead expenses.

MeadWestvaco is a Zacks #3 Rank (”Hold”) company.

“MWV” Free Stock Analysis: Buy? Sell? Hold?
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