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Job cuts unavoidable for Resolute Forest Products

Some bad news for Resolute Forest Products as shares in Quebec paper and lumber producer fell more than seven per cent on the Toronto stock market.
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Resolute Saw Mill
Resolute Saw Mill in Thunder Bay (Leith Dunick, tbnewswatch.com).

THUNDER BAY -- Resolute Forest Products received some bad news Thursday.

Shares in Quebec paper and lumber producer fell more than seven per cent on the Toronto stock market Thursday after its CEO talked about cutting jobs soon.

Richard Garneau thinks layoffs are unavoidable in the face of US trade import and countervailing duties on paper and lumber that will cost the company tens of millions of dollars.

For now, Garneau has declined to say how many workers could be affected.

The company operates both a paper mill and a sawmill in Thunder Bay.

(TBT News)



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