China Financial Daily

H&R Block layoffs: H&R Block intended to lay off 400 people
Beijing Wednesday evening news, tax services provider H & R Block Inc (HRB) announced that as part of its cost reduction efforts, will lay off 400 people and has closed 400 underperforming offices.

The company said the layoffs will be in its field and corporate support team to conduct, and it ended in 2012 before the financial cuts 140 000 000 -1.50 100 million U.S. dollars in annual operating costs.

The company said that approximately 28 million U.S. dollars will be included in pre-tax expenses, mainly in the first quarter ending in July to cover severance costs. The company currently has approximately 11,000 offices and employs approximately 133,700 employees.

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