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WALNUT CREEK, CA, Monday, August 15, 2005 —
Westaff, Inc. (NASDAQ: WSTF), a leading provider of staffing services, today announced it is restructuring its Southeast Region under the leadership of Regional Vice President Todd Halverson. In his expanded role, Halverson will be responsible for Westaff operations in Georgia, Florida, North Carolina, South Carolina and Tennessee.
The change coincides with the introduction of several restructuring, growth and performance enhancement measures designed to streamline Westaff's operations and organizational structure, improve profitability and support long-term expansion in the United States.
"Todd's extensive experience in the staffing industry, having served in a variety of key positions over the past 15 years, has equipped him to help drive Westaff to a new level," said Trish Newman, President and Chief Executive Officer of Westaff. "I'm very pleased that Todd will be leading the new Southeast Region, where we have a strong presence and even stronger potential."
Leading up to his expanded role, Halverson helped grow and upgrade Westaff operations throughout the Southeast. "It's an exciting time for Westaff," Halverson said. "I'm happy to be a part of the Company's new energy and focus, which I'm confident will promote continued growth in the region."
Westaff provides staffing services and employment opportunities for businesses in global markets. Westaff annually employs approximately 150,000 people and services more than 15,000 client accounts from more than 230 offices located throughout the United States, the United Kingdom, Australia and New Zealand. For more information, please visit our Web site at www.westaff.com.
This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934, and is subject to the safe harbors created by law. Forward-looking statements contained herein include, but are not limited to, the statements regarding revenue and the prospects for fiscal 2005. The forward-looking statements contained herein involve a number of assumptions, risks and uncertainties. Actual results could differ materially from estimates. Among the factors affecting future operating results are: credit facilities and compliance with debt covenants, liquidity, workers' compensation collateral requirements, possible adverse effects of fluctuations in the general economy, variability of employee-related costs including workers' compensation liabilities, a highly competitive market, control by a significant shareholder, the volatility of the Company's stock price, reliance on management information systems, risks related to customers, variability of operating results and the seasonality of the business cycle, reliance on executive management, risks related to international operations, risks related to franchise agent and licensed operations, uncertain ability to continue and manage growth, reliance on field management, employer liability risks and ability to attract and retain the services of qualified temporary personnel and regulatory mandates, including potential mandated health insurance.
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. 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, Form 10-Q, Form 8-K and other filings.
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