CE to reduce overhead expenses at US headquarters


31 August 2007 — Amsterdam (NL): Corporate Express announced today cost reduction measures at its US headquarters aimed to reduce overhead expenses.


"Staff reduction and other cost reduction activities generally target non-customer facing and non-direct field support positions to ensure there are no disruptions to service levels for our customers," the company said.


Annual cost savings are estimated to amount to £18 million as from 2008. One-time costs of £21 million, of which £13 million in severance charges and £8 million in asset write-offs, will be incurred over the next three quarters and reported as special items.