*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:
close

Next Article in Direct Mail

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Direct Mail

Delivered: Food Delivery Mailers

Delivered: Food Delivery Mailers

What's in our mailbox this month: Food delivery mailers. Which one's the tastiest?

Tracking Direct Mail Response in a Digital World

Tracking Direct Mail Response in a Digital World

It's essential to understand how direct mail delivers website traffic and impact conversions.

Help Out the USPS—and Yourself—by Amping Up Your Direct Mail

Help Out the USPS—and Yourself—by Amping Up Your ...

Direct mail is far from obsolete, and investing in it could save the USPS.