Acxiom Corp. will eliminate a total 230 workers, or 5.4% of its U.S. workforce, as part of a restructuring program. The staff reductions were expected to be in place by the end of Acxiom’s fourth quarter, on March 31.
The layoffs will reduce Acxiom’s annual payroll by $15 million. The company will take a one-time charge of $3 million related to severance costs.
In a conference call, company leader Charles Morgan attributed the layoffs to backend staff consolidation. The company’s clients will continue to work with the same employees, he added.
Separately, Acxiom also announced that it had landed a large automotive manufacturer as a client. The Little Rock, AR-based data services provider will manage its database, support its marketing campaigns and implement a customer recognition system.
While Acxiom did not name the client, it did reveal that the new client win would be worth more than $50 million during the next four years.
