CDI Corp announces corporate realignment and sees Q4 2013, FY 2014 restructuring charges

Monday, 30 Dec 2013 07:50am EST 

CDI Corp:Says it will undertake a realignment in the Q1 2014 to organize business efforts more clearly into engineering and staffing services.Says the realignment will also shift support resources including many of the SG&A functions into CDI's business units.Says the realignment will take place in Jan. 2014 and will result in a reduction in headcount of about 65 to 75 employees and the consolidation of facilities.Says anticipates pre-tax cost savings of about $11 to $13 million in 2014.Expects to incur a restructuring charge of about $5 to $6 million in the Q4 2013 related to employee severance and facility consolidations.Expects to incur restructuring charges of about $2 to $3 million in 2014 related to additional facility consolidations. 

Company Quote

0.43 +3.15%
27 Mar 2015