Fairlawn, Ohio-based compounding giant A. Schulman Inc. said it will create an accounting and shared service center of excellence, which will reduce its headcount nationally while adding some employees in the Akron, Ohio, area.
“The company expects this initiative will result in the elimination of approximately 25 headcount throughout the United States partially offset by the addition of approximately 15 headcount at the SSC,” the company said in announcing the initiative May 2.
Schulman has not yet said where the new Shared Service Center will be housed, except to say it will be in the Akron area.
The new office will be responsible for all of the company's back-office operations, such as accounting services and payroll services, across the U.S. and Canada.
"The decision to create this [center] is in line with actions we've already successfully implemented in Europe, and will greatly enhance our internal processes and productivity. Additionally, this project will contribute to our Smart Savings initiative in the region," said Joseph Levanduski, executive vice president and chief financial officer.
The company said the project will cost about $2.5 million, but will save the company about $2 million a year once the center is operational in 2018.
Founded in 1928, Schulman today has approximately 5,000 employees and 57 manufacturing facilities globally. The company reported net sales of about $2.4 billion for the fiscal year ended Aug. 31, 2015.