H&R Block to cut 400 jobs to trim costs
May 20, 2010 - 0 comments
Kansas -- U.S. tax service H&R Block said Wednesday it would eliminate 400 positions in an effort to trim costs in a "challenging" business environment.
"We operate in a challenging and competitive environment, and to be successful we must find new ways to provide better value to our clients," President and Chief Executive Officer Russ Smyth said in a statement.
The company said it closed 400 under-performing offices out of 11,000 retail tax service locations.
The recent cuts are expected to reduce operating costs by about $145 million per year through 2012.
"Changes like these are never easy … However, these steps are necessary to improve our business performance and better serve our clients," Smyth said.
Copyright 2010 United Press International,
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