Westaff Launches TCM Solutions
02 April 2008 - 12:45AM
Business Wire
In response to the growing demand on client companies to decrease
per-unit costs, leading provider of light industrial staffing
services Westaff, Inc. (NASDAQ:WSTF), today announced an innovative
fixed-cost labor solution, Total Cost Management (TCM) Solutions.
Best suited for high-volume, labor-based, production-oriented
companies, TCM Solutions integrates the manufacturing and
distribution expertise of engineering professionals into a
traditional staffing model, and adds in fixed staffing costs to
guarantee clients lower per-unit costs. Among the first staffing
providers to offer this service model, Westaff begins operations of
its TCM Solutions division immediately. �For more than 60 years
Westaff has been pioneering strategic staffing solutions for our
client companies,� commented CEO and Chairman Michael T. Willis.
�The launch of our new TCM Solutions extends this tradition. By
integrating and applying our staffing and productivity expertise to
everyday operations, Westaff is able to forge true partnerships
with client companies and positively impact their efficiency and
bottom lines.� Westaff�s expert TCM solutions division is comprised
of a team of senior engineering, manufacturing and distribution
professionals who understand the demands placed on production
facilities managers. Using a proprietary three-phased approach, The
Westaff Engineered Solution, this team thoroughly researches and
analyzes the economics of a client company�s production processes
and then works directly with that company to design, blueprint and
construct an individualized productivity plan. Westaff consultants
then apply proven incentive-based pay programs to the streamlined
production strategy, boosting productivity and lowering per-unit
costs. �With more than 70 years of combined engineering,
manufacturing and distribution experience, Westaff�s TCM Solutions
team understands every step of the supply chain, as well as the
challenges facing companies in today�s economic climate,� noted
Westaff TCM Solutions National Director Jeff Jiampetti. �We apply
this expertise to the unique demands of each of our clients,
working with operations and human resources personnel to develop
customized programs that maximize profits by striking the right
balance between headcount and output.� For more information about
Westaff�s TCM Solutions, please visit www.Westaff.com, or call Jeff
Jiampetti at 702-656-3374. About Westaff Westaff provides staffing
services and employment opportunities for businesses in global
markets. Westaff annually employs in excess of 125,000 people and
services more than 20,000 client accounts from 179 offices located
throughout the United States, Australia and New Zealand. For more
information, please visit our Web site at www.westaff.com. This
press release contains forward-looking statements within the
meaning of U.S. securities laws. Forward-looking statements in this
release are generally identified by words such as "expects,"
"believes," "will," and similar expressions that are intended to
identify forward-looking statements. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. All forward-looking statements are
qualified in their entirety by this cautionary statement.
Forward-looking statements contained herein include, but are not
limited to, statements regarding expected delivery of improved
performance during fiscal 2008, domestic revenues in the first
quarter of fiscal 2008, continued gross margins, and first quarter
net income for fiscal 2008. The forward-looking statements
contained herein involve a number of assumptions, risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by these forward-looking
statements. Many of these risk and uncertainties cannot be
controlled by the Company. These risks and uncertainties include,
but are not limited to: risks related to control by a significant
shareholder, an intensely priced competitive market, our
significant working capital needs and our ability to borrow to meet
those needs, our ability to borrow under our credit facilities and
our compliance with their debt covenants, variability of the amount
of collateral that we are required to maintain to support our
workers' compensation obligation, the sufficiency of our workers'
compensation claims reserve, variability of employee-related costs,
including workers' compensation liabilities, possible adverse
effects of fluctuations in the general economy, our ability to
collect on our accounts receivable, risks related to franchise
agent operations, risks related to international operations and
fluctuating exchange rates, reliance on executive management and
key personnel, our ability to attract and retain the services of
qualified temporary personnel, the ability of our customers to
terminate our service agreement on short notice, variability of the
cost of unemployment insurance for our temporary employees, any
difficulty with our information technology system, government
regulation, potential exposure to employment-related claims, the
volatility of the Company's stock price, increased regulatory
compliance costs and litigation and other claims. Additional
information concerning the risks and uncertainties listed above,
and other factors you may wish to consider, is contained in the
Company's filings with the Securities and Exchange Commission,
including the Company's most recent Form 10-K for the year ended
November 3, 2007. Forward-looking statements are based on the
beliefs and assumptions of the Company's management and on
currently available information. The Company undertakes no
responsibility to publicly update or revise any forward-looking
statement except as required by applicable laws and regulations.
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