The structural reduction of corporate costs is a key element of the Strategic Review that PaperlinX is currently undertaking. As part of its clear plan to create a company with a sound balance sheet and a sustainably profitable future, PaperlinX has today announced a number of initiatives that will deliver a 35 per cent reduction in its corporate costs during the next fiscal year (starting July 1st, 2012) compared to last year.
As part of these changes, PaperlinX has made the decision to disband its global Marketing and HR functions and operate these functions within its regional structure to reduce corporate overheads.
As a consequence of these changes, The Milton Keynes Corporate office will close and the Group CEO, Toby Marchant, and the remaining global functions, primarily finance, will relocate to the company’s Brackmills site in Northampton.
Dave Allen, Executive Vice President, PaperlinX said, “The Strategic Review is delivering a clear plan for long term recovery and this latest move signals our commitment to reducing overhead and building a business that can deliver a sustainably profitable future.”
