ST. PETERSBURG — St. Petersburg-based Valpak, one of the nation's largest direct mail companies, is laying off 40 graphic artists involved in ad production, the company confirmed on Tuesday.
The jobs, mostly involving artists work from home, will be laid off in stages beginning in July and continuing into August, said Valpak president Michael Vivio. Employees were notified in individual meetings last week.
Valpak employs about 750 people in Pinellas County.
Valpak was acquired earlier this year by Platinum Equity, the global investment firm founded by California billionaire Tom Gores, who owns the NBA's Detroit Pistons. Terms of the purchase from Valpak's former parent company, Cox Target Media, were not released. At the time, Valpak said the acquisition would not lead to job losses.
But Vivio said this round of layoffs had been under consideration for a year as the company sought for greater efficiencies.