Corrections Corp. (CXW) Announces Corp. Restructuring; Plans Workforce Reduction
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CCA Announces Corporate Restructuring and Cost Reduction Plan
September 27, 2016 4:15 PM EDTNASHVILLE, Tenn., Sept. 27, 2016 (GLOBE NEWSWIRE) -- Corrections Corporation of America (NYSE: CXW) (the Company or CCA), America's largest owner of partnership correctional, detention, and reentry facilities, today announced a restructuring of the Company's corporate operations and implementation of a cost reduction plan. CCA expects that 50 to 55 full time positions will be eliminated as a result of the restructuring, or approximately 12% of the corporate workforce at its headquarters. The restructuring realigns the corporate structure to more effectively serve facility operations and support the progression of CCA's business diversification strategy.
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