Standard Register Launches Renewal Plan
Standard Register, Dayton, Ohio, has announced a four-step renewal plan which includes restructuring, reorganization, performance improvement and growth initiatives. The restructuring, which began with the closing of the Dayton plant, will affect approximately 2,400 employees and will reduce production capacity by approximately 30 percent.
Reorganization will create four strategic business units to create dedicated and accountable management. The units include Document Management, Fulfillment Services, Labels and Label Systems, and SmartWorks.com.
Performance improvement will be a series of initiatives to intensify account management, reduce costs, reduce working capital and redefine incentive plans.
During 2001 growth initiatives will target distribution labels, document consulting, fulfillment services and e-procurement as high-growth niches that will improve the company's performance.