Log Cabin Democrat: Layoffs Have Begun at Acxiom

The Log Cabin Democrat reports today that the job cuts Acxiom Corp. of Little Rock announced in its recent quarterly earnings conference call are underway:

Ines Gutzmer, Acxiom’s director of corporate communications and global marketing, said the layoffs are a company wide effort.

"We’re looking at every single area of the company," she said. "There’s no single department."

During the Nov. 6 call (and in a filing with the U.S. Securities and Exchange Commission), Acxiom said it would work to cut its annual cost base between $20 million and $30 million over the next 6 to 12 months.

"The initiative seeks to improve the company’s performance by simplifying the company’s management structure, centralizing duplicative efforts and standardizing workflows," Acxiom said in the filing. "The components of the restructuring program are not finalized and actual total savings and timing may vary from those estimated due to changes in the scope or assumptions underlying the restructuring program."

Acxiom said the move will occur in phases and that it is "unable to make a determination of the estimated amount or range of future costs and cash expenditures."

Acxiom CFO Warren Jenson said during the conference call that the company is "methodically" examining it management structure and workflows in search of efficiency. He said the company is particularly looking at areas of duplication or places where operations can be centralized, such as information technology.

Jenson added that Acxiom would invest its savings from the cost-cutting effort into other parts of the company. Acxiom employs about 2,000 people in Arkansas and more than 6,000 worldwide.