*Pitney Bowes Suffers Loss, Cuts Jobs

Share this article:
Pitney Bowes Inc. said yesterday that it would cut up to 800 jobs after posting a 17 percent decline in fourth-quarter net income, according to reports.


The company will take a $100 million charge in the first quarter as part of a restructuring.


The provider of mailing systems and postage meters reported a net income of $148.3 million, or 59 cents a diluted share, down from $178.1 million, or 66 cents a share from a year earlier.


The company blamed the losses on the slowing economy and increased competition. Pitney Bowes also suffered from disappointing results from its office-systems business. The division, which sells copiers and fax machines, will be spun off.


Pitney Bowes will announce more restructuring details in the first quarter.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Direct Mail

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Direct Mail

Delivered: Coupon Mailers

Delivered: Coupon Mailers

What's in our mailbox this month: Coupons. See which ones are good deals—and which ones you shouldn't deal with.

Melissa Goes to Canada

Melissa Goes to Canada

Melissa Data adds Canadian change of address processing to its cloud-based NCOA service.

Delivered: University of Chicago Mailers

Delivered: University of Chicago Mailers

What's in our mailbox this month: University of Chicago mailers. See which ones make the grade—and which ones, not so much.