Tuesday, August 12, 2008

IHS Announces Restructuring, Layoffs

Information services firm IHS Inc. reported Monday that it is cutting approximately 7 percent of its current international workforce as part of a cost-saving initiative. The Englewood, Colo.-based company said it will eliminate some 220 regular positions and about 40 contractor positions related to its knowledge-based data accumulation operations. IHS said the measures are steps in the company's ongoing organizational realignment, which includes a $13 million restructuring charge that will be applied toward the current quarter. IHS added that it is also implementing a new regional financial reporting structure, each covering a distinct geographical area: the Americas (North, Central and South America), EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific).