No. 1 Garbage Hauler to Trim 1,200 Jobs

Waste Management Inc., the largest garbage hauler in the U.S., said it will cut about 1,200 jobs, or 20% of its management and support work force in its North American waste services operations. The Oak Brook, Ill.-based company said the job cuts and other steps are expected to reduce annual costs by about $100 million. In addition, it said it will reorganize into 32 regions, each responsible for about $200 million in annual revenue and focused on a single large population center. The company also said co-founder and Chief Executive Dean Buntrock will retire from the board and leave the company by the end of the year. Waste Management shares rose 25 cents to close at $24.75 on the New York Stock Exchange.