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Waste Management to further cut costs

Houston, Texas-based Waste Management Inc. (WMI), recently announced it plans to reduce its market areas from 91 to...


Houston, Texas-based Waste Management Inc. (WMI), recently announced it plans to reduce its market areas from 91 to 66 in Canada and the U.S. during 2003 and trim about 700 full-time and 270 contract positions in the process, as part of an ongoing cost-reduction initiative.

WMI released 2002 fourth quarter and year-end financial results on February 18, 2003, reporting a net income in 2002 of $822-million on operating revenues of $11.14-billion, compared with net income of $503-million on operating revenues of $11.32-billion during 2001.

The company says the cutbacks will generate an estimated $42-million in savings.

For further information, call Bill Plunkett at 713-265-1678


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