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The move is seen as a response to declining earnings in recent quarters.
He also warned that declining earnings at the company's environmental services business were not likely to improve any time soon.
At issue was the company's acquisitive nature in the face of declining earnings.
Hewlett-Packard also reported declining earnings today for its third quarter.
The previous model was a recipe for declining earnings.
Investors had apparently been girding for bad news, especially in light of declining earnings at many other technology companies.
The local news report included a cursory mention of the auto industry's declining earnings.
Not surprisingly, his major sell signal is declining earnings.
Kmart has had 11 consecutive quarters of losses or declining earnings.
The world's leading tire companies have suffered from declining earnings this year, a result of international competition on pricing.
Such predictions point to stagnant or declining earnings for many media companies because most costs are relatively fixed in the short term.
Some stocks have begun to move up with oil prices, even while the companies post declining earnings and keep their charges low to drillers.
"As a result, they are managing to grow earnings in an office environment characterized by declining earnings."
Many of these companies had flat or declining earnings last year because of the fall of the dollar.
Despite its skid, the stock market as a whole remains expensive relative to its declining earnings.
Two competitors, Whirlpool and Maytag, also reported declining earnings last month.
Its announcement - that first-quarter revenue would be 25 percent below expectations - will probably push already declining earnings estimates lower.
Now you're going to find, in the next half a year, more businesses that are heavily indebted, have debt burdens, have declining earnings.
Investors also worried about declining earnings.
Sprinkle on some scandal, declining earnings and a change in management - and you're going to get some problems."
Brooks Brothers has been grappling with declining earnings and sales, as is the case with much of the men's wear retailing industry.
With declining earnings at many of the nation's leading banks, analysts and industry officials expect that the premium increases will be passed on to bank customers.
"But it's confusing people, because lower interest rates are good, but declining earnings are not good.
Other retail outlets have also been hit by declining earnings, a result of too many stores offering too many discounts.
The announcement is the latest piece of bad news from McDonald's, which has reported declining earnings for seven of its last eight quarters.