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Sysco to cut 1,200 jobs
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Business Published in 1-3-2016
1035 Visits
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The food distribution company revealed the plan to cut its workforce by about 2 percent as it gave what it described as additional details of its current three-year operating plan.
Sysco expects to take severance and related charges of $25 million to $30 million over the next 15 months as well as charges of about $70 million in fiscal 2016 and approximately $130 million in fiscal 2017 related to write-offs and other costs resulting from the changes in technology strategy.
Last week, less than a year after federal regulators rejected its attempted purchase of its largest U.S. rival, Sysco said it would buy the biggest food -distribution company in the United Kingdom.
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Reference: www.chron.com
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Created in : 30-11-2016
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