January 2009: Interline Brands Inc. has eliminated 85 full-time positions.
As a result of the layoffs, as well as several other expense control actions, the company expects to save about $12 million a year.
“The decision to downsize is never easy to make, and we thank out affected employees for their many important contributions,” said Chairman and CEO Michael Grebe. “However, these actions are necessary to ensure that our cost structure aligns with current and expected market dynamics.”
In the first quarter of 2009, Interline expects to record one-time severance charges totaling about $1 million.
The company is also consolidating 10 distribution centers over the next six months.