OFFICEMAX TO CUT ANOTHER 245 JOBS

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OFFICEMAX TO CUT ANOTHER 245 JOBS

 user 2008-11-26 at 1:59:45 pm Views: 45
  • #20428
    http://www.chicagotribune.com/business/chi-officemax-job-cuts-nov13,0,6797656.story
    OfficeMax to cut 245 jobs in corporate, field management
    OfficeMax
    Inc. disclosed late Thursday that it is eliminating 245 jobs from its
    corporate staff and field management team, in a move the Naperville
    office-supply company called part of a “proactive cost reduction
    initiative.”

    The retailer said it expects the staff cut to
    generate severance costs of about $8.5 million; the moves will reduce
    annual costs by about $20 million, OfficeMax said.”Challenging economic
    conditions require we take proactive steps to maintain a solid busines
    position that will support long-term growth,” said Chairman and Chief
    Executive Officer Sam Duncan.The company’s disclosure came after the
    stock market’s close.