H&R Block (HRB) To Realign; Cuts 350 HQ Jobs, 200 Offices

April 25, 2012 4:18 PM EDT
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H&R Block (NYSE: HRB) announces strategic realignment to realize net annualized savings of $85 to $100 million by end of fiscal year 2013.

Overall, the company plans to eliminate approximately 350 full-time positions throughout its Kansas City headquarters and nationwide field organization. The company also will streamline its seasonal workforce and close approximately 200 underperforming company-owned offices.

Expects fiscal 2012 total revenues of approximately $2.9 billion versus the consensus of $3 billion and GAAP diluted earnings per share from continuing operations of $1.09 to $1.15, versus the consensus of $1.39 (may not comapre)

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