The Milford-based developer of software used in product development said it would eliminate about 5.5 percent of its global workforce over an unspecified time and unveiled a reshuffled lineup of executives who will report to SDRC President and Chief Operating Officer Glenn Wienkoop. The 5.5 percent cut represents about 138 workers. SDRC didn’t break out the job cuts by location. Spokesman Guy Hicks said about half the job cuts were made in the marketing and product development departments last week and others will be made over time in the company’s sales organization.Hicks said the job cuts were not being made in reaction to market conditions, but as part of a shift in the skills SDRC will need as it moves more aggressively into e-business. New workers with skills that match SDRC’s new focus will be hired over time, Hicks said. He declined to specify what skills SDRC would need in the future or what skills became expendable.
If using a Conveyancers or settlement agent, he/she cannot act for both the buyer and the seller. SDRC earlier reported third quarter profits of $296,000 (1 cent per share) in the third quarter, down 88 percent from the same quarter a year ago. Profits for the first nine months were down 45 percent from a year ago to $12.9 million. Revenue was up 1.2 percent to $331.9 million. The company said at the time it was unable to close several large contracts in the third quarter that had been in the final customer funding process for three to five months.On Monday, the firm unveiled a new executive line-up: Ronald G. Schmitz will assume overall e-business responsibility as well as continuing as vice president and general manager of the e-Business Integration Group. James W. Rusk was named vice president and general manager, e-Mechanical Design Automation Products Group.
William A. Carrelli was named to a new position, corporate vice president for market and business development, creating a new organization to build strategic alliances, develop new opportunities, and identify acquisitions. South-Western publishing and its parent company Thomson Learning are poised to move 350 jobs out of Cincinnati as part of an expansion plan. ”We have made a decision if a better facility becomes available to us to leave the Madison Road facility,” said Robert E. Lynch, president and chief executive officer of South-Western Publishing.
The company is located at 5101 Madison Road. South-Western, a print and Internet publisher of materials for higher education, is conducting a nationwide search for the new facility.