- Republic Services announced Friday that it will launch a board reorganization that will significantly consolidate the company's structure. Republic will eliminate its three regions, and instead merge its 20 areas to 10, resulting in 10 new "area offices."
- In an effort to improve its customer engagement model — which services 14 million customers — Republic will also consolidate call centers from 100+ customer service locations to three Customer Resource Centers. $20 million will be invested to install and design these three centers.
- The company expects to take a $35 million restructuring charge this year. However, the overall reorganization should result in $25 million savings annually.
A press release from Republic Services stated that the reorganization announcement "is a natural extension of the many customer-focused programs and initiatives recently launched by the Company. These programs differentiate its service offering, build customer loyalty and increase the quality of revenue for the products and services it offers."
Following the reorganization announcement, the company's stock fell another 4.7%. A change in organizational structure gives a hopeful approach for the company to see a financial upturn in years to come.
Republic Services did not respond to Waste Dive's immediate request for comment.