SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
NOVEMBER 30, 1995
Date of Report (Date of earliest event reported)
STAFF BUILDERS, INC.
(Exact name of Registrant as Specified in its Charter)
DELAWARE 0-11380 11-2650500
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
1983 MARCUS AVENUE, LAKE SUCCESS, NEW YORK 11042
(Address of Principal Executive Offices) (Zip Code)
(516) 358-1000
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report) (Zip Code)
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Item 5. Other Events
On November 22, 1995, Staff Builders, Inc. (the "Company")
announced that (i) it was taking a charge in the third quarter ending
November 30, 1995 to cover the discontinuation of two unprofitable divisions;
and (ii) it was recording a reserve due to a revision in the methodology used
to allocate corporate overhead between its Medicare and private sector
businesses, which revision is being required by its Medicare fiscal
intermediary. Both of the discontinued divisions were in the development
stage. One performed case management services for independent insurance
carriers engaged in the long-term care insurance business and the other
provided back-office services and financing to independent home health care
providers. The total of the charges for the write-off of unprofitable
divisions and the reserve for reimbursement adjustment has not been
determined, but the Company believes that it could amount to $2.5 million
after taxes, or $.10 per share for the third quarter ending November 30,
1995.
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned herunto duly authorized.
STAFF BUILDERS, INC.
November 30, 1995 by: /s/ Gary Tighe
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Name: Gary Tighe
Title: Senior Vice President
Finance and Chief
Financial Officer
