Acxiom Confirms Layoffs

by Arkansas Business staff  on Friday, Mar. 26, 2004 11:46 am  

Acxiom Corp. of Little Rock confirmed late Thursday that it has eliminated "some jobs" in the last 10 days but declined to comment further.

In a two-sentence statement released after market close, the information management services company said the jobs cuts were "related to an organizational realignment effective April 1."

Acxiom also said it would "discuss the scope of this restructuring when it is appropriate."

The company did not say how many jobs it cut or give any further details about the nature of the realignment. Acxiom has about 5,500 employees in the United States and Europe. It has about 4,500 in Arkansas.

Acxiom had refused to comment earlier this week on word from inside the company that it was laying off a significant number of workers.

Shares of Acxiom (Nasdaq: ACXM) were trading at $20.01 on Friday morning. It closed at $20 on Thursday.

Acxiom has said it expects revenue in the fourth quarter to be between $265 million and $270 million, and earnings per share of between 16 cents and 18 cents.

Acxiom is in the process of buying Consodata companies in Europe for $37.5 million in cash, and in January it closed the purchase of Claritas operations in Europe in a deal valued at $40 million.

The information management services company's last major layoff took place in June 2001, when the company let go 412 workers, or about 7 percent of its work force, reduced salaries by at least 5 percent and cut expenses in advertising, marketing, incentives and travel. It cited the national economic downturn among the reasons for the layoffs.

 

 

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