USA: Lance to cut 300 jobs due to poor sales
US snack food manufacturer Lance has announced it is to lay off around 300 workers, 6% of its workforce, due to poor sales. The company said its consolidated revenue fell about 3% in the first eight weeks of the first quarter compared to a year ago. Lance said costs related to the job cuts would reduce earnings by around US$2m to $2.5m. Around half of the charge will be recorded in the first quarter, reported the Associated Press.
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