H&R Block Will Cut Jobs, Close 400 Offices Nationwide

Next year’s tax season will see far fewer H&R Block tax centers nation wide, reports the Wall Street Journal.  Block plans on closing 400 underperforming offices as well as letting go some 400 employees.  The move, according to the Journal, will save the company $150 million a year.

The nation’s larges tax retailer saw a significant decline in revenues this tax season.  The company has been, despite its new online services, hurt in recent years by do-it-yourself products like Turbo Tax that often offer users free versions of their software and charge minimal e-filing fees, attractive features at a time when many have few dollars to spare.