"I believe our real estate plans are causing confusion for some people," says President and CEO Robert G. Burton. "We have publicly announced that we are examining many opportunities, one of which is to relocate some of our back office functions out of the Chicago area."
The Toronto Globe and Mail also reported the company was moving its headquarters again, this time from 1200 Lakeside Dr. here to Connecticut. The company has sales offices and operations facilities in Farmington Hills, MI; Columbia, MD and Miami.
"As we announced previously, other plans include right sizing our real estate portfolio which may cause the closing or relocating of some offices into other facilities more appropriately sized to meet the needs of our customers," Burton adds. "The examination of our real estate portfolio in no way indicates an intention of the company to move off of either the TSE or NYSE."
The company has been cutting payroll in an attempt to slash $100 million in costs over the next two years. They have announced the elimination of 800 jobs so far this year.
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