WMI: Cuts won't affect service.(Waste Management Inc. reduces workforce)(Brief Article)(Statistical Data Included)
Waste News, March, 2002 by Johnson, Jim
Waste Management Inc. says its 27 million customers will not see a difference in service as a result of its decision to eliminate 3.5 percent of its work force. The Houston-based company is axing 2,000 jobs by cutting out a management layer to save an estimated $100 million per year. Waste Management said it will record the cost of slashing the positions, $75 million, throughout this year.
The company will take the largest chunk of the pre-tax charge, $50 million or 5 cents per share, during the first quarter. The decision to cut the jobs, which will reduce Waste Management's work force to 55,000, is part of a yearlong study the company has undertaken to find ways to improve itself. Waste Management, the nation's largest solid waste...
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