H&R Block To Close 200 Offices, Lay Off 350

Office closings and mass layoffs hit yet another industry that is being hit hard by technical innovation. Here is Bloomberg with the details:

H&R Block Inc., the biggest U.S. tax preparer, plans to cut 350 jobs and close about 200 company- owned offices as part of a realignment.

Also, H&R Block said it is searching for a new chief financial officer and that CFO Jeff Brown will remain with the company during the search process. Once a successor is found, Brown will transition to chief accounting and risk officer, the Kansas City, Missouri-based company said in a statement.

I've always prepared my own taxes, and about five years ago switched over to Turbo Tax. That program is so easy to use, it amazes me that so many people still pay someone to do their taxes for them. Sadly, H&R Block can hire a new CFO if it wants, but that won't change the fact that, like Blockbuster Video, their business model is yesterday's news.


Bonus: "I'm the taxman"