Ouch. That hurts.
Oscar Mayer, which has been part of Madison’s northeast side for nearly 100 years, is closing its Madison headquarters and manufacturing plant, the company said Wednesday.
Kraft Heinz Food Co. confirmed in a statement that it will close the Madison facility along with six of its other manufacturing facilities in North America in a staged process over the next two years as it shifts production to other plants.
In the wake of disappointing financial results, Sussex-based Quad/Graphics Inc. said Tuesday it will begin closing plants and taking other steps to cut $100 million in costs.
“Our third quarter financial performance was challenging and below our expectations,” Joel Quadracci, CEO of the commercial printing firm, said in a statement.
Quadracci said the company would move swiftly to slice costs and bring them in line with sales.
Quad did not say how many jobs it might cut, or identify any plants for closing. However, spokeswoman Claire Ho suggested that the firm’s operations in Wisconsin, where it employs 7,000 people at 14 facilities, are not high on the target list for closures.