H&R Block to cut about 505 positions

viernes 1 de febrero de 2008 00:04 CET

Jan 31 (Reuters) - H&R Block Inc (HRB.N: Cotización), the largest U.S. tax preparer, said it will cut about 325 filled and 180 open positions, representing about 23 percent of its corporate support staffing, by April 30.

None of the positions affected are involved in field tax services or business services, H&R Block said in a statement.

The company expects to incur a pre-tax charge for severance-related benefits of about $17 million, most of which will be incurred in its third quarter. It expects to reduce compensation expense by about $50 million per year. (Reporting by Dilipp S. Nag in Bangalore; Editing by Deepak Kannan)