Hit With 3rd Quarter Decline, Diebold Inc. Suspends Global HQ
Citing a 58-percent drop in 3rd quarter earnings -- including falling profits from its Brazil voting machine business -- Diebold said it’s not economically feasible to invest in a new, $100 million headquarters any time soon. CEO Thomas Swidarski says his company will keep developing new technologies for Diebold clients.
“So we’re comfortable with where we are regarding our strategy, and approved execution in security, and renewed confidence in our ability to deliver growth,” he said today in a conference call.
The development was to happen on a 55-acre site just off of Interstate 77, in Green. It’s not certain yet what will become of the site, or plans to extend a road to accommodate it.
Valerie Wolford, a City of Green spokeswoman, says Diebold informed Mayor Richard Norton of the project’s suspension.
“Diebold executives were quick to reassure him, that they intended to stay in Green in their current headquarters," says Wolford. "And that they will invest some amount of money into the current facility to accommodate their near-term needs.”
Diebold is Green’s biggest employer, with 1,800 workers on its payroll.