Dun & Bradstreet Cuts 700 Jobs Worldwide
Dun & Bradstreet Corp., Murray Hill, NJ, will eliminate 700 of the 12,500 global positions within its Dun & Bradstreet Operating Co. No such plans were announced for its Moody’s Investors Service division, which D&B said it would spin off last week.
Most of the layoffs are expected to completed by the end of the year. While D&B anticipates a one-time restructuring charge of $40 million in the fourth quarter, the company also expects to realize a $30 million savings in 2000 and an additional $40 million in 2001 and beyond.
According to the company, the restructuring and layoffs will occur in three principal sectors:
* International sales and data collections, especially Europe
* Technological operations. D&B said it would increase reliance on offshore development
* Data collection in the U.S. resulting in the closure of 15 field data collection offices.
