USG People NV To Lay Off 3,900 Staff and Close Down 34 Offices-DJ

Dow Jones reported that USG People NV will lay off 3,900 staff and close 34 of its 614 offices in the Netherlands. The measure should cut structural costs of the Company by EUR 27 million on an annual basis. In the second half of 2011 savings of EUR 11 million should be achieved. USG People budgeted EUR 16 million in the second quarter of 2011 for costs involved with closing down offices and laying off staff and EUR 3 million for the second half of 2011. As a part of the operation IT activities will be outsourced.