Tuesday, February 10, 2009

Brightpoint to Reduce Global Work Force

Indianapolis-based Brightpoint Inc. says it will cut at least 220 positions from its global work force as part of a plan to deal with the weak economy, reports Inside INdiana Business.

The reductions are in addition to the 10 percent cut in the number of workers announced last June. Brightpoint is also eliminating cash bonuses for senior executives and implementing hiring and salary freezes.

The spending reduction plan comes as the company reports a fourth quarter net loss of $346 million for fiscal 2008, compared to net income of nearly $15 million the previous fiscal year. Brightpoint says it took a $325.9 million impairment charge in the fourth quarter primarily related to the acquisition of Dangaard Telecom in 2007.


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