D&B to Cut 550 Employees by July

Share this article:
Business information provider D&B Corp., Short Hills, NJ, will cut about 8 percent of its staff and sell its European headquarters as it looks to cut costs and redirect money to Internet projects, the company said this week.


D&B will let go 550 of its 6,875 workers by July, taking a $16 million charge for severance costs. It said it also would take a charge of $9 million for other cost-saving consolidation plans.


The company said these layoffs are part of its series of financial initiatives expected to create about $75 million in available funds.


D&B said it was in talks to sell its European headquarters in the United Kingdom, expecting to take a $13 million loss before taxes on the sale.


The company also said that Bruno de la Riviere, senior vice president of D&B and president of D&B Europe, announced his intention to leave D&B.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

MeritDirect Opens San Jose Office

MeritDirect Opens San Jose Office

A force in direct mail, the company looks to expand its digital data services with a footprint in Silicon Valley.

Neustar Decides to Hand Data Over to its Clients

Neustar Decides to Hand Data Over to its ...

AK Media Insights Pro turns data over to marketers to create business-specific aggregations, integrate offline efforts, and probe deeper into their sales funnels.

Arthur Hughes, Who Wrote the Book on Database Marketing, Dies at 86

Arthur Hughes, Who Wrote the Book on Database ...

First published in the early days of the Web, Arthur Middleton Hughes's Strategic Database Marketing remains a bible for direct marketers.