BURLINGTON, Ontario, Dec. 10 /CNW/ -- Waste Services, Inc. (Nasdaq: WSII) today announced that the executive management team has substantially completed the restructuring of corporate overhead and other administrative cost cutting initiatives disclosed in the Company's third quarter earnings release. The restructuring includes the closing of the Boca office, effective this Friday, and consolidation of corporate administrative functions to the Company's headquarters in Burlington, Ontario. Administrative costs have been reduced in the Eastern and Western Canadian regions and in the Florida region as well through the consolidation of various functions within the regions. Total headcount has been reduced by approximately 65 throughout the company. Management is highly confident of reaching the stated goal of permanently eliminating $4 to $5 million in annual overhead costs, which equates to 4 to 5 cents in earnings per share. The Company has also instituted a wage and hiring freeze through 2009.

David Sutherland-Yoest, President and Chief Executive Officer of WSI, commented: "Waste Services has experienced significant growth over the past several years. During that time, we have invested in management information systems and developed our management decision making processes. With the economic slowdown, it is an appropriate time to take advantage of this investment and streamline our administrative cost structure. Although this can be a painful process, we finish the year a stronger and more flexible company."

The Company began the restructuring process immediately following the successful completion of the refinancing of its credit facilities on October 8, 2008.

Safe Harbor for Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements describe the company's future plans, objectives and goals. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from the plans, objectives and goals set forth in this press release. Factors which could materially affect such forward-looking statements can be found in the company's periodic reports filed with the Securities and Exchange Commission, including risk factors detailed in the company's Form 10-K for the year ended December 31, 2007. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.

The forward-looking statements made in this press release are only made as of the date hereof and Waste Services undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Waste Services, Inc., a Delaware corporation, is a multi-regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services in the United States and Canada. The company's website is www.wasteservicesinc.com. Information on the company's website does not form part of this press release.