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Just Another WC Employee

United States

#1 Jan 27, 2010
I copied/pasted the excerpt below from Quad/Graphics' website ( http://www.qg.com/careers/default.asp ).

Get your career off to a great start. Start now.
As a company built for employees by employees, we’re known for taking better care of employees and their families. Some of the many benefits we extend to our full-time employees include:

A comprehensive health and wellness program
One of the most progressive health plans in the nation, our program centers on a proactive approach to healthcare to keep you and your family healthy. It offers:

Comprehensive coverage. Our plan allows freedom of choice of providers and emphasizes prevention and wellness.
On-site clinics. Some of our locations offer the convenience of an on-site clinic providing high-quality healthcare, including primary care, rehabilitation services, pharmacies, dental and vision care. Employees may also choose to receive services from an extensive network of preferred providers, or even providers outside the network.
On-site fitness centers at our print-production facilities. Fully equipped and staffed by ACE certified personal trainers, we offer free weight loss and exercise advice, as well as coordinate group exercise classes and recreational leagues and events.
A health incentive program. We financially reward full-time employees and their spouses for practicing healthy behaviors.
Retirement resources: 401(k) and profit sharing
Our Personal Enrichment Plan combines both 401(k) and profit sharing under one umbrella to help employees prepare for a comfortable retirement through easier ability to manage retirement monies and improved investment power.

Profit sharing. Our company-contributed profit-sharing plan helps employees prepare for retirement and become company owners. A portion of an employee's profit-sharing account may be used to purchase Quad/Graphics common stock, with the opportunity to acquire an ownership interest in the company. Employees may self-direct the cash portion of the profit-sharing account. Vesting is based on years of service.
401(k). Through this optional savings plan, employees can contribute up to 50% of their income (within IRS-set limits) before-tax to a 401(k) account and/or after-tax to a Roth 401(k) account. Quad/Graphics matches a portion of the election (30 cents on the dollar up to 6%).
Personal and professional growth opportunities
A variety of technical, leadership and self-improvement classes to supplement on-the-job training is offered through Quad/Education, our in-house education division. We also have collegiate partnerships with technical schools and a generous tuition reimbursement policy to help employees pursue secondary education.

On-site conveniences
To help you achieve a better work/life balance, we offer competitively priced childcare at three of our print-production plants (Lomira, Pewaukee and Sussex, Wis.). Discounted dry cleaning and massages are also available, as well as convenient automated teller machines and more.

Out-of-the-ordinary extras
Our benefits go beyond the ordinary to include:

Reimbursement of adoption expenses
Healthcare for retirees
College scholarships for the children of employees
Interest-free loans of up to $800 for the purchase of a personal computer
Dollar-for-dollar matching of employee contributions to non-profit charities through our Community Fund
dotgainer

Hendersonville, TN

#2 Jan 27, 2010
Wow that really sounds good so long as they don't plan to cannibalize the newly aquired world color facilities.
Smell_0f_Money

Bay City, MI

#3 Jan 28, 2010
That's all fine and good....however, what will the payscale be for, oh, I don't know....1st and 2nd pressmen, rolltenders, joggers????? Some of us can't afford another cut in pay.
PMG

Sussex, WI

#4 Jan 28, 2010
Nobody likes paycuts. That said, if I had a choice between a job with less pay or no job at all, the job wins.
Billy Bob

Warrenville, IL

#5 Jan 28, 2010
> A portion of an employee's profit-sharing account may be used to purchase Quad/Graphics common stock, with the opportunity to acquire an ownership interest in the company.

Sounds somewhat Enronish....
PMG

Sussex, WI

#6 Jan 28, 2010
Billy Bob wrote:
> A portion of an employee's profit-sharing account may be used to purchase Quad/Graphics common stock, with the opportunity to acquire an ownership interest in the company.
Sounds somewhat Enronish....
That may change. The stock is not yet public.

Once public employees could sell the stock
WC is a joke

Chicago, IL

#7 Jan 28, 2010
we had a meeting yesterday in chicago. They tried to slip in that right now there are 18-20 thousand employees and that this merger is such a great idea because w.o it we'd go to 7,000. But then go on to say after the sale is complete we will go to 13-15 thousand. So it sounds to me 5,000 jobs across the board will be cut. These people are a joke. He ends with stay focused keep working hard, you can ask me questions but I have not one answers. It's almost like they take us as jokes.

Since: Jan 10

Milwaukee, WI

#8 Jan 28, 2010
From the press release:
http://worldcolor.com/quad_graphics.aspx

"Worldcolor Common Shareholders will receive Quad/Graphics Class A Common Shares, each having one vote per share, for approximately 40 percent total ownership of the Company. Quad/Graphics’ shareholders will continue to own Class A, Class B and Class C shares for approximately 60 percent total ownership of the Company. The Harry V. Quadracci family will control the Company through ownership of the high-voting Class B shares. The Class C Shares are owned by a qualified retirement trust for Quad/Graphics employees. Any future dividend or consideration received will be distributed pro rata regardless of share class. The Class A Common Shares are expected to afford holders enhanced liquidity. Neither the Class B nor Class C Shares are expected to be publicly traded."

...looks like any profit-sharing stock (to be Class C) is held in the trust, therefore not traded or sold.

The stuff from the QG site also says:

"A portion of an employee's profit-sharing account may be used to purchase Quad/Graphics common stock"

It doesn't say who's doing the purchasing. Could be the employee, or it could be the trust, depending on how you read it.
Serpicco

San Francisco, CA

#9 Jan 28, 2010
bleu_cheeze wrote:
From the press release:
http://worldcolor.com/quad_graphics.aspx
"Worldcolor Common Shareholders will receive Quad/Graphics Class A Common Shares, each having one vote per share, for approximately 40 percent total ownership of the Company. Quad/Graphics’ shareholders will continue to own Class A, Class B and Class C shares for approximately 60 percent total ownership of the Company. The Harry V. Quadracci family will control the Company through ownership of the high-voting Class B shares. The Class C Shares are owned by a qualified retirement trust for Quad/Graphics employees. Any future dividend or consideration received will be distributed pro rata regardless of share class. The Class A Common Shares are expected to afford holders enhanced liquidity. Neither the Class B nor Class C Shares are expected to be publicly traded."
...looks like any profit-sharing stock (to be Class C) is held in the trust, therefore not traded or sold.
The stuff from the QG site also says:
"A portion of an employee's profit-sharing account may be used to purchase Quad/Graphics common stock"
It doesn't say who's doing the purchasing. Could be the employee, or it could be the trust, depending on how you read it.
Found this site called "Quadwatch" - does anybody know if there is any truth to this website - could be just a disgruntled worker:
http://www.quadwatch.com/quadpaybenefits.html
I am surprised the guy has not been sued for defamation
marathon

Midland, MI

#10 Jan 28, 2010
It's not a 'paycut' Smell_of_money. It's a "you're lucky to still have a job payment modification"
gggggggg

Sussex, WI

#11 Jan 29, 2010
bleu_cheeze wrote:
The stuff from the QG site also says:
"A portion of an employee's profit-sharing account may be used to purchase Quad/Graphics common stock"
It doesn't say who's doing the purchasing. Could be the employee, or it could be the trust, depending on how you read it.
Currently this means the trust, not the employee.
Keep in mind the stock is not yet public
Brad Nathan

Chicago, IL

#12 Jan 29, 2010
gggggggg wrote:
<quoted text>
Currently this means the trust, not the employee.
Keep in mind the stock is not yet public
Um....private companies can sell stock to their employees. It's a pretty common occurance. No one is arguing whether they're public or not.

Idiot.
Tellmethetrutch

Charlotte, NC

#13 Jan 30, 2010
Anyone out their from Quad know what their severance packages are ?
If you have details for a 10 year employee that would be great.
Thanks !
Tellmethetrutch

Charlotte, NC

#14 Jan 30, 2010
Opps "out there".
Blackbelt131

Sussex, WI

#15 Jan 31, 2010
Re: Severance. I'm not speaking from personal experience, just what I've heard. Severance has been one weeks pay for each year of service plus any accumulated vacation time due at the time of employment termination. If you're in Charlotte I'm assuming you're working in the Imaging / Pre-press area? Don't write yourself off just yet partner. Talent is valued....just be prepared for a possible relocation. If it's offered to you, take it.
Blackbelt131

Sussex, WI

#16 Jan 31, 2010
...and to clarify.....I mean if the relocation is offered...NOT the severence. Short term pain will mean long term gain....I've worked in many of the QG plants....it's all been worth it.
Smell_0f_Money

Bay City, MI

#17 Jan 31, 2010
marathon wrote:
It's not a 'paycut' Smell_of_money. It's a "you're lucky to still have a job payment modification"
Yup, I'm so lucky, I might as well have a leprachaun in me pocket, a four-leafed clover behind me ear, and a rabbit's foot on me keychain. I'd be getting punched in the sack, with a rash on my neck, and an angry three-legged rabbit trying to kill me...all while sliding down a rainbow into a pot of fool's gold. LUCKY!
Oh Boy

Ashburn, VA

#18 Jan 31, 2010
Serpicco wrote:
<quoted text>
Found this site called "Quadwatch" - does anybody know if there is any truth to this website - could be just a disgruntled worker:
http://www.quadwatch.com/quadpaybenefits.html
I am surprised the guy has not been sued for defamation
WOW just read over this web site, either this guy is crazy or he's telling the truth, because there are any number of statements he could be sued over. If a man is willing to give you his name, I'm going to have to go with he must be telling the truth because he doesn't seem the least bit scared. God help us all,just when you thought things couldn't get any worse
TellMeTheTruth

Tacoma, WA

#19 Feb 1, 2010
Blackbelt131 wrote:
Re: Severance. I'm not speaking from personal experience, just what I've heard. Severance has been one weeks pay for each year of service plus any accumulated vacation time due at the time of employment termination. If you're in Charlotte I'm assuming you're working in the Imaging / Pre-press area? Don't write yourself off just yet partner. Talent is valued....just be prepared for a possible relocation. If it's offered to you, take it.
Not good. I've got a 6 month severance deal here at World Color for my 10 years of service.
Quad may just give 2.5 months, that's horrible. As far as moving goes, that's impossible with this housing market. I couldn't sell now unless I wanted to take an $80,000 bath on the home and that's if I am even lucky enough to sell at that low price. My wife still has a good job here. Looks like the only hope I have is if Quad keeps us open.
fed up

Rochester, NY

#20 Feb 1, 2010
World Color has Dress down Friday. LOL

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