The Nielsen Company is reporting an operating income of $118 million for 2008, down considerably from $416 million in 2007. Revenues were $5 billion, up about 6% from the prior year.
Nielsen attributes the profit decline, in part, to $726 million in goodwill impairment and deal-related costs. Roughly $120 million of that was attributed to restructuring charges associated with the termination of about 1,200 staffers in 2008, as well as $24 million in contractual termination costs and asset write-offs.
Since December 2006, Nielsen has terminated approximately 6,100 employees as part of a company-wide restructuring effort. The company has about 36,000 full-time employees worldwide.