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Case - Business
Turnaround
Gannet Outdoor
Division of Fortune 500
Media Company, Los Angeles, CA
(6-Month Engagement)
Shrank operating costs
16%
by managing an operations
overhaul
Before: Embattled labor
and management
Before: 24% cost disadvantage to automated competitors
Before: Declining core market (51% of billboards empty)
After: Labor-led
turnaround / Cut costs over 16% in one year
After: Development of two major new markets
After: Core-market growth - 7% reduction in empty billboards
Engaged to manage turnaround of unionized billboard production plant that was suffering a 24% cost disadvantage against competitors, an embattled labor-management relationship, and almost half of all billboards sitting empty.
Weekly planning/ project-management meetings with the plant’s senior labor were used to oversee complete restructure of plant layout and production processes, and coordinate between production, accounting and sales, in order to significantly lower costs, increase hot new product offerings and boost revenues.
Results included over 16% cost reduction in six months, major new revenues from two high-margin markets, and an overall 7% reduction in empty billboards.
“…I know it wasn’t
easy… getting the employees to stop feeling like victims …their change
into a positive, I-can-make-a-difference type group was absolutely
amazing… We are moving away from that stormy, argumentative mode into
one aimed at making real change.”
William J. Ripp
Vice President/Operations Manager
Gannett Outdoor
