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270 Gone In Insight's Second Layoff In Five Months
5:49 PM EDT Fri. Apr. 03, 2009
"Like nearly all global businesses, we continue to be affected by the challenging worldwide economy," Rich Fennessy, president and CEO of Tempe, Ariz.-based Insight, said in a statement. "We are confident that even with these substantial expense reductions, we will be able to maintain our operational strength in this tough economic environment."
The moves will save the company about $30 million. The company also announced cost-cutting moves last November. Insight expects total operating expenses to be reduced by about $65 million, according to Raymond James & Associates.
In November 2008, Insight laid off approximately 240 U.S. associates and announced streamlining steps such as merging its corporate and North America executive and back-office organizations.
"The vision and strategy that have driven our growth continue to be vital to our success, but we need to ensure that our organization and cost structure are aligned to the current worldwide economy," said Fennessy in a statement.
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