by Lance Turner
Posted 2/26/2014 01:47 pm
Updated 8 months ago
Arkansas Business is hearing word of another round of layoffs at Acxiom Corp. of Little Rock, the data services provider that announced in November that it would cut its annual cost base by up $30 million.
As of last year, Acxiom (Nasdaq: ACXM) employed about 2,000 people in Arkansas and more than 6,000 worldwide. But the company has held at least two rounds of layoffs since announcing plans to cut its cost base in a Nov. 6 filing with the U.S. Securities and Exchange Commission.
Acxiom won't say how many employees have been affected by its cost-cutting efforts. Ines Gutzmer, Acxiom's director of corporate communications, sent our reporter Luke Jones this statement when we asked about today's reports of layoffs:
As communicated in our last earnings call, Acxiom has embarked upon an initiative to increase efficiencies and further improve performance. This is a company-wide, multi-phased approach, and our goal is for all associated actions to be completed by end of this fiscal year. We are on track to meet this timeline, and we hope to provide an update as soon as the process is completed.
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Explaining the cost-cutting measure to analysts in November, Acxiom said it was seeking to simplify the company's management structure, centralize duplicative efforts and standardize workflows.
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." It expected the actions to take place over a 6- to 12-month period.
"The one thing that we are doing however is that we're being very methodical and very long-term in our approach," Acxiom CFO Warren Jenson said at the time. "There's no slash and burn here. So what we’re doing is, we're carefully examining layer-by-layer our management structure to figure out how we can better organize ourselves, and we're involving our [employees] in that effort too ..."