NextLevel Systems Inc. said Tuesday it is moving its corporate headquarters from Chicago to the Philadelphia suburb of Horsham, Pa.
The move, expected to be made before the end of March, is part of the company’s reorganization plan that was announced in October. The maker of cable television set-top boxes said it hopes that consolidating the 50 corporate employees in Chicago with the 1,200 employees in the Philadelphia area will help it improve financial performance.
Last month, NextLevel’s chief executive, Richard S. Friedland, suddenly resigned in the wake of disappointing earnings, prompting the company to develop a turnaround plan.
It expects to announce further details of the plan by mid-December.
It is still unclear how many people from NextLevel’s Chicago office will join the company in Horsham. But Edward D. Breen, NextLevel’s president and acting chief executive officer, said he expects about 15 people from the finance, tax, legal and public relations departments will move.
NextLevel said that it will build a new facility in Horsham by the end of this year for its corporate headquarters and various operations, including designing cable set-top boxes.
