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Nielsen's 1,250 Job Cuts 'Should be All for Now'
The Nielsen Company has laid off 1,250 of its staff, but says the losses are probably 'the last for some time' and the total of c.4,000 redundancies originally planned for 2007 will not be reached, according to Reuters.
The company had talked of reducing its workforce - which numbered around 41,000 until the cuts last week - by around ten per cent. Spokesman Jack Loftus told Reuters that around 200 to 300 of last week's layoffs were in the US, coming from Nielsen's Global Business Services group which includes operations, technology and IT staff. Many of the cuts are intended to reduce duplication of work, but it is unlikely that any sites will be closed altogether.
The group - then VNU - was purchased by private equity consortium Valcon in the spring of 2006 (www.mrweb.com/drno/news5529.htm ) and was rapidly delisted. Cost-cutting measures to remove perceived duplication of effort were discussed prior to the takeover, but with no numbers attached. The group's home page is at www.nielsen.com.
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