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Cubic Reorganization Eliminates Two Top Jobs

San Diego-based Cubic Corp. said June 7 it plans to reorganize its two principal subsidiaries in a move that would eliminate the president position at both divisions and result in 20 to 30 layoffs.

Cubic’s defense and transportation groups will be losing presidents Gerald Dinkel and Richard Efland, respectively. Dinkel will stay on as a senior advisor and Efland will retire at the end of 2007.

In attempts to improve operating efficiency, both divisions will reduce staffing by 10 to 15 people. Layoffs have already been completed by the defense group and will be complete in the transportation group within the next 10 days.

Cubic Corp. is traded on the American Stock Exchange as CUB and closed on June 7 at $27.47, down 34 cents from the previous session.

, Andy Killion

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