In addition, seasonal layoffs impact a total of 36 positions in its Toronto and Montreal, Quebec facilities. Combined, these actions affect less than 2% of GMCR’s total North American employees as of the end of its first quarter fiscal 2013.
All reductions are anticipated to be complete by 11 May, 2013. GMCR expects a one-time pre-tax charge related to these actions during its second quarter fiscal 2013 in the range of $600,000 to $650,000.
The company expects the impact of the charge will be immaterial to its second quarter fiscal 2013 results and did not update its previously issued second quarter or fiscal year 2013 guidance as a result of these actions.
In general, affected employees would be considered for qualified regular or flexible positions that may be available in the future. For those employees whose positions are eliminated, GMCR is offering outplacement services and severance based upon years of service in order to support the transition.
Source: Green Mountain Coffee Roasters
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