JEFFERSON, La. (AP) — Funeral-home and cemetery operator Stewart Enterprises Inc. on Wednesday announced plans to restructure its organization and eliminate about 60 jobs.
Stewart said the decision came after a review of its operations. Most of the affected workers are involved in corporate support services. The moves are expected to result in savings of more than $10 million over its 2012 and 2013 fiscal years, the company said.
Under the plan, Stewart said it will restructure its sales organization and realign its regions and regional management, with one regional vice president overseeing the sales and operations of each region.
Stewart said that combining its funeral and cemetery operations and sales workers under one regional vice president will boost its consistency, efficiency and flexibility.
Most of the restructuring will take place over the next two to four days. The changes are expected to result in a charge of about $2 million to $3 million in the second quarter of fiscal 2012, Stewart said.
Stewart shares rose 15 cents, or 2.5 percent, to $6.12 in morning trading.