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CDI announces restructuring plan

December 23, 2014

CDI Corp.’s (NYSE: CDI) board last week approved a restructuring plan, and the company expects to take a restructuring charge of between $3.2 million and $3.9 million in the fourth quarter, according to a filing with the US Securities and Exchange Commission. Half of the amount is related to employee severance and half to facility consolidations.

The Philadelphia-based staffing provider also expects restructuring charges of between $500,000 and $2.2 million in 2015 primarily related to lease termination costs.

CDI ranks No. 21 on the US list of largest staffing and talent engagement firms. It also ranks No. 6 on the list of largest US engineering staffing providers, and No. 16 on the list of largest US providers of IT staffing.