Sara Lee to lay off nearly 1,700 |
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Mon, 29 Jan 2007 23:18
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DOWNERS GROVE, Ill. (AFX) - Sara Lee Corp. said Monday it will lay off nearly 1,700 employees, or about 3 percent of its overall work force of 54,000, as part of a reorganization plan to increase business performance.About 1,200 workers will be laid off when the company closes its pork processing and FlavoTech spice production plants in West Point, Miss., on March 30. Workers were told of the layoffs Monday morning.Sara Lee said another 489 workers will be laid off around the globe as part of the restructuring. Those layoffs will result in a $40 million (euro32 million) pretax charge.The company said it will take a $152 million (euro118 million) noncash pretax charge in the quarter ended Dec. 30, 2006, mainly due to continued declines in its Brazilian coffee operation. That figure includes a $34 million (euro26.3 million) charge to close the Mississippi factories.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Sara Lee to lay off nearly 1,700 workers 