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EL SEGUNDO, Calif., Jan. 30 -- Hughes Electronics Corporation (NYSE:HS)
today announced it has initiated an organizational restructuring at its corporate headquarters. The restructuring allows Hughes to consolidate several functions that have been based at the company into its DIRECTV unit. As a result of the restructuring, approximately 50 positions have been eliminated at the Hughes corporate office, while approximately 30 other positions have been relocated to DIRECTV.
"The decision to eliminate jobs is always a difficult one, and this organizational restructuring is no exception. I want to thank those departing employees for their contributions to Hughes over the years and wish them well in the future," said Chase Carey, president and CEO of Hughes. "This restructuring supports our goal of achieving greater operational efficiencies and our vision of operating Hughes with an entrepreneurial spirit and energy that will enable us to build on our successes and be the recognized leader in our respective businesses."
Employees whose positions were eliminated received a severance package to assist them in transitioning to new employment. Outplacement services are also available to those employees.
Hughes Electronics Corp. (NYSE:HS)
is a world-leading provider of digital multichannel television entertainment, broadband satellite networks and services, and global video and data broadcasting. Hughes is 34 percent owned by Fox Entertainment Group, which is approximately 82 percent owned by News Corporation Ltd.
Source: Hughes Electronics Corporation
CONTACT: Bob Marsocci of Hughes Electronics Corporation,
+1-310-964-0888
