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FWD: Waste Management To Cut 1,200 Jobs (fwd)
> Waste Management To Cut 1,200 Jobs
> (November 11, 7:03 pm)
> OAK BROOK, Ill. (AP) - Less than two weeks after a major management
> shake-up, Waste Management Inc. announced Tuesday it will eliminate
> 1,200 jobs.
> Waste Management's board of directors voted for a reorganization that
> will trim 20 percent of field operations management and support jobs
> and save $100 million a year, the company said in a statement.
> "I am determined to keep the momentum going that has been developed by
> our people to make this a dramatically better company," said Robert S.
> "Steve" Miller, acting chairman and chief executive officer.
> Miller is Waste Management's third chief executive since February. He
> was named to the post on Oct. 29 after the sudden departures of the
> firm's chief executive, chief financial officer and vice president in
> charge of staffing services.
> Some shareholders had complained that previous streamlining plans were
> not enough. A plan announced in February called for 3,000 layoffs.
> In recent years, Waste Management had expanded into consulting,
> engineering, water treatment and other fields. It is trying to return
> to its core business of solid waste collection and disposal, selling
> unrelated and underperforming businesses.
> The new plan will consolidate purchasing operations at the Oak Brook
> headquarters, with a projected savings of 5 percent to 10 percent by
> Waste Management also plans to buy newer trucks to save on maintenance
> costs. The company said it operates nearly 23,000 collection and other
> vehicles in North America.