Quad Graphics Printing has announced it will be closing its Waukee plant in January.
The company’s announcement on Iowa’s Worker Adjustment and Retraining Notification, or WARN, website states the Waukee facility will shut down Jan. 10, idling 88 workers.
Quad Graphics did not respond to an emailed request for comment on Friday.
The global marketing company, based in Sussex, Wisconsin, employs about 13,000 people in 14 countries and serves about 2,700 clients, according to its website.
The closing of the Waukee plant follows a Quad Graphics announcement Tuesday that it is selling the majority of its European operations for around $45 million to a German-based private capital manager, according to a news release on its website.
Quad expects to use the proceeds from the sale to reduce debt and make further investments that advance its global marketing “consistent with its commitment to drive shareholder value,” according to the release.
Quad Graphics stock was selling for $5.16 a share in afternoon trading, down about 5.5% from its opening Friday.