CDI Corp. will cut its staff by 65 to 75 employees, the Philadelphia engineering and staffing company said Monday. It will also consolidate facilities. To accomplish the staff cuts, CDI will incur a restructuring charge of $4 million to $5 million in the fourth quarter.
The company, which has offices around the U.S., employs 800 as well as 9,000 contractors deployed as part CDI's staffing organization. The cuts would primarily come from the 800, focused on employees working in sales and administration.
Facility consolidation will require a $1 million charge in the fourth quarter and $2 million to $3 million in 2014, CDI said. The company declined to say which facilities it would close.
Leaving as part of the restructuring is Philip L. Clark, the company's executive vice president of global business development and operations. He will be gone as of March 31.
In its most recent quarter, CDI reported declines in revenues and profits, with challenges in its government, high-tech and recruiting businesses. Aerospace engineering work has also declined.