Ryerson focused on growth amid cuts
Nov 14, 2011 | 05:40 PM
CHICAGO Ryerson Inc. remains poised for growth with additional investments despite laying off 400 people over the past month as part of an ongoing consolidation of sales functions, the metals processor and distributor said.
"In October the company implemented a reorganization plan that reduced headcount by approximately 400 employees," Ryerson said in a 10-Q statement filed with the U.S. Securities and Exchange Commission. "The company reduced headcount in a continued effort to decentralize functions to its regions, as well as to execute managements strategy of focusing on long and fabricated product sales."
Chicago-based Ryerson hasnt disclosed how many employees were let go at each location, executive vice president and chief financial officer Terence R. Rogers told AMM, but noted that "we did not close operation locations (service centers) but consolidated sales functions. We eliminated redundant positions throughout the organization."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.