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Alberto-Culver “right-sizes”

This article was originally published in The Rose Sheet

Executive Summary

Two marketing units will be combined into one as part of a company-wide reorganization following the firm's separation from Sally Beauty, it announces Dec. 1. In addition, certain international services will either be outsourced or combined into regional offices. The company also plans to reduce its workforce of 3,800 employees by approximately 90 and close its Dallas, Texas manufacturing facility by the end of 2007. The reorganization represents a "right-sizing" of the company, taking into consideration "services we were maintaining in support of Sally and corporate activities that could be scaled back to match the needs of a smaller company," according to Jim Marino, president and CEO. The firm expects to incur restructuring charges of approximately $13 mil. and $3 mil. in Q1 and Q2 of 2007, respectively. The reorganization and all financial charges related to it are expected to be "substantially completed" by the end of Q2 2007. Alberto-Culver broke from Sally Beauty in November (1"The Rose Sheet" Nov. 27, 2006, In Brief)...
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