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Valpak To Cut 79 Positions Amid Ad Slowdown

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By RICHARD MULLINS | The Tampa Tribune

Published: December 17, 2008

The Valpak coupon company will eliminate 79 positions as a result of lower projected coupon volume in 2009. That represents about six percent of Valpak's total workforce.

The company cited an overall slowdown in advertising.

"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," Valpak CEO Greg Bicket said in a statement.

Valpak employs about 1,400 people in the area, including about 500 people at a newly built, $220 million automated coupon sorting and mailing facility in St. Petersburg. From there, Valpak sends its signature blue envelopes of coupons to 46 million households in the United States and Canada each month.

The cuts come as Atlanta-based Cox Enterprises, the current parent company of Valpak, hopes to sell the coupon operations, along with several other media properties.

Reporter Richard Mullins can be reached at (813) 259-7919.

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