Moore Continues Streamlining Efforts
TORONTO—The countdown to cutting $100 million continues at Moore Corp.
That figure is the amount Robert G. Burton, president and CEO, pledged to save the company when he began announcing initiatives in January aimed at reducing Moore’s costs. Burton is fast proving that this cost-reduction process will not be slow, as the company has revealed several more moves to make the goal closer to becoming reality.
Moore announced that it is integrating its operations in Canada with its U.S. forms and labels operations, which will reduce operating expenses through the “elimination of duplicative layers of management and administrative positions,” notes Burton. The move is projected to save $7 million to $10 million.
Two weeks later, the company announced it was shaving 400 non-customer-critical positions in its U.S. operations, completing Moore’s employment reduction target of 10 percent. The eliminated jobs are slated to save the company approximately $20 million.
The company also embarked on an initiative called Project PROFITS, which is aimed at streamlining and reducing the cost of its information technology activities. Moore appointed Robert L. Sell to the position of vice president and chief information officer to lead the undertaking.
According to Burton, Project PROFITS’ goal is to “identify and implement processes that fit our best practices, while driving profitability for Moore through cost reduction and improved efficiencies.” The project is expected to result in approximately $15 million in savings.
In other company news, Moore has launched its Integrated Business Solutions Group, an endeavor that will aggressively focus on helping customers acquire, retain and build loyalty with their clients.
The effort is a combination of Moore’s Business Communications Services and Response Marketing Services. Bruce D’Angelo was named president of the group.