Finding that its previous expense cuts were not enough, Arbitron trimmed about 10% of its full-time staff, about 110 people, this week. It’s also cutting operating expenses.
Calling the re-structuring a “painful” process, new President/CEO Michael Skarzynski said the restructuring is designed to save money and speed decision-making so Arbitron can better capitalize on growth opportunities.
“The company is reevaluating the skill sets that we need given the rapidly changing and competitive media measurement marketplace. We also believe the cost reductions provided by this restructuring will contribute to the company’s long-term success,” said Skarzynski, who pledged customers would not see a drop in service as a result of the changes.
Arbitron expects to realize more than $10 million in savings in 2010 from the workforce and expense reductions combined.
Earlier this month Arbitron moved its corporate headquarters from New York to Columbia. The company already had 767 full-time employees in Maryland, or about 71 percent, of its 1,100 full-time workers worldwide.