Business

H&R Block eliminates 90 jobs, mostly at its Kansas City headquarters

Job cuts at tax preparer H&R Block came mostly from its headquarters, shown here. The jobs involved corporate functions rather than tax work.
Job cuts at tax preparer H&R Block came mostly from its headquarters, shown here. The jobs involved corporate functions rather than tax work. Bloomberg

H&R Block Inc. said Tuesday that it cut about 90 jobs at the height of the tax season, mostly at its Kansas City headquarters.

The layoffs included 20 employees at other Block work sites that also perform corporate functions rather than tax preparation work.

In an emailed statement, the company said it did not expect to make any other cutbacks.

These cuts came after a “thorough analysis of our workforce requirements” and with an intent to “optimize our human resources with company objectives,” the statement said.

H&R Block had said in March that business was down in the early part of the tax season. It prepared 4.2 percent fewer returns through the end of February compared with a year earlier, a drop that chief executive Bill Cobb had called disappointing.

It was disappointing because total tax filings at the Internal Revenue Service also were down, but only 0.6 percent from a year earlier. Cobb had said Block would have a stronger second half to the tax season but added the company had fallen so far behind it probably would not make up the shortfall in returns before the season ends April 15.

Cobb had said Block was faring better financially thanks to some price increases and efforts to sell customers additional products along with tax preparation work.

H&R Block shares were up 36 cents Tuesday, a 1.1 percent climb, and finished trading at $32.07.

To reach Mark Davis, call 816-234-4372 or send email to mdavis@kcstar.com. Follow him on Facebook and Twitter at mdkcstar.

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