Professional services firm consolidator Century Business Services announced today a year long effort to consolidate its offices in markets where multiple CBIZ offices exist.
CBIZ will initially consolidate 10 of its largest markets where the Company has acquired multiple companies over the past three years, including its BIZ Centers in Washington DC, Philadelphia, Atlanta, Kansas City, Colorado, Northern and Southern California, Cleveland, Chicago, and Texas. CBIZ expects to consolidate at least 60 office locations, yielding savings through reduced space, lower systems and equipment costs, and the elimination of redundant positions.
"While revenue has benefited from integration efforts thus far through cross-serving, these consolidations will have a significant impact on cost savings, adding to our bottom line through increased efficiency, and supporting CBIZ’s branding strategy" says CEO Michael DeGroote. "Most importantly, putting an array of our services physically under one roof facilitates customer-centered communications among our service providers and will improve the quality of the customized services we deliver to our clients."
These cost cutting efforts are expected to yield a pre-tax savings of $15 million annually to the company.