Waste Management Announces 700 Layoffs

Houston-based Waste Management announced it would lay off roughly 700 employees as part of an effort to restructure the company and cut costs.

Waste Management employs roughly 2,300 people in Houston, including 1,200 at its corporate headquarters. But the company says Houston job cuts will only touch its corporate support staff — a pool of fifty workers.

The vast majority of the cuts will come from the elimination of a management layer for four other geographic regions.

The company took the occasion to announce new appointments to key offices, including that of James Trevathan as chief operating officer.  Trevathan was previously executive vice president for growth, innovation, and field support.

The announcement came as Waste Management released its numbers for the second quarter. Revenues totaled nearly $3.5 billion dollars, up 3% from the second quarter of 2011. Net income was just over $200 million or $0.45 per diluted share.

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Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...