QUICK LINKS: Videos  |  Micromarkets |

Redemption Report




Buy a Classified Ad


Editorial Calendars


Circulation Data






Date Book


Bookmark this site

Issue Date: Vol. 50, No. 6, June 2010, Posted On: 6/11/2010

Lance Lays Off 2% Of Workforce To Cut Costs

Emily Jed

CHARLOTTE, NC -- Lance Inc. said it has reduced its workforce by 2% as part of a series of cost-cutting measures. Officials said the cuts were necessary to restore the snack company’s profit margins and align its operating costs with its revenue, which has been below its expectations.

The company expects to record a pretax charge for severance and related expenses of approximately $3 million in the second quarter of fiscal 2010 as a result of the layoffs. Annualized benefits from the cost reductions are expected to total approximately $6 million.

Lance manufactures and markets crackers, cookies, potato chips, nuts and candy under the Lance, Cape Cod, Tom's, Archway and Stella D'oro brands, along with a number of private-label and third-party brands. It has manufacturing facilities in North Carolina, Iowa, Georgia, Massachusetts, Texas, Florida, Ohio and Ontario, Canada.

Topic: Vending Features

  • Lavit's Single-Cup Solution: Countertop Cold Drinks, At Long Last?
  • Better-For-You Products Proliferate At Vistar Mid-Atlantic's Largest-Ever Open House
  • VE South Hosts Orientation For New Wittenborg 9100 Coffee Vending Machine
  • AMS Plans January Production For MicroVend Countertop Machine
  • Businesses Begin To Accept Mobile Payments With Square's New Reader

Copyright © 2015 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570