After repeated attempts for information regarding the final weeks in Acxiom’s year-long effort to reduce annual cost base, Acxiom director of corporate communications Ines Gutzmer issued a statement to media.
“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.”
In November, as part of the company’s second quarter earnings report, Acxiom announced plans to cut its workforce over the next six to 12 months in an effort to save $20 - $30 million annually.
Acxiom CFO Warren Jenson said in an earnings call with investors and media in November that Acxiom would take “measurable actions before year-end.”
Jenson declined to give a timeline of reductions but said they would be “linear not back-end loaded,” assuring the company would be “very methodical and very long-term” in its approach.
“There’s no slash and burn here,” he said.
Employees are expected to be informed of layoffs this week with the effort completed by the end of Acxiom’s fiscal year March 31.
An Acxiom employee said he didn’t have any information regarding the layoffs Wednesday afternoon.
“The news usually knows it before we do,” he said.
Conflicting reports from various sources in the community have placed the number of layoffs from 200 to 250 as the yearlong effort comes to an end.
In a filing with the US Securities and Exchange Commission, Acxiom said the layoffs seek to improve the company’s performance by simplifying management structure, centralizing duplicative efforts and standardizing workflows.
(Staff writer Michelle Corbet can be reached by email at firstname.lastname@example.org or by phone at 505-1215.)