Valpak Axes 79 Positions

Valpak has cut 79 positions, or 6% of its workforce, because of a lower projected volume for 2009.

Affected employees will be offered severance packages, paid benefits continuation and outplacement services.

“This was a very difficult decision for us, but given the economic forecast, it is necessary to ensure Valpak performs well during this current recession,” said CEO Greg Bicket, in a statement.

These cuts were made across all levels, affecting employees at both its St. Petersburg and Largo, FL operations, according to wire service reports.