The C-E-O of the Cedar Rapids-based McLeod U-S-A says efforts to turn around the telephone company’s financial woes are moving ahead with success. The company, which recently emerged from bankruptcy, reported today that revenues were down 10 percent in the first quarter of this year. But, C-E-O Chris Davis says when you take out the costs of re-organizing the company, earnings were up 12 percent. Davis says the re-organization has included scaling back the companies facilities.She says they’ve identified about 30-million dollars in potential savings by consolidating their facilities, and are on track to reduce their customer service facilities from 11 to three by the end of June. Davis says they company’s completed its 15-percent reduction in staff. She says they’ve been able to eliminate redundancy and overlap, and many layers of management, while still being able to maintain good customer service. Davis says they’ve also been successful in selling off many of their non-core businesses to free up capital.
Iowa's Radio News Network
