Catalina Marketing Corp. plans to cut 70 jobs, or 6% of its workforce over the next two months.
Primarily corporate positions will be eliminated across its U.S. operations, the company said.
Employees are not affected within Catalina Marketing Direct Marketing Services, Catalina Marketing Research Solutions or Pacific Media, a Toyko-based billboard division. The company plans to divest those business units, as previously disclosed.
The company expects to take a $1 million pre-tax restructuring charge related to the reductions during the fourth quarter ending March 31.
“These actions are intended to improve our business performance in fiscal 2005, as we continue to build the value of the network,” Mike O’Brien, Catalina’s interim CEO and a founder, said in a statement.
The company is also undergoing re-audits of its fiscal 2002 and 2001 financial statements and has not yet completed the audit for fiscal 2003, as it evaluates the appropriateness of certain revenues and non-cash transactions.
Daniel D. Granger resigned as chairman and CEO last November amid questions over certain accounting issues.
The St. Petersburg, FL company offers behavior-based marketing services for consumer goods companies, pharmaceutical manufacturers and their respective retailers.
