Sara Lee Cuts 390 Jobs to Save $39 Million
The sale will result in labor savings of roughly $39 million by 2013.
According to AP, Sara Lee said the company has already notified employees and the European Works Council of its plans.
Sara Lee earlier sold its Ambi Pure air freshener unit to P&G (PG), its India joint venture stake for insecticides and other businesses to concentrate on food and beverages.Shares of Sara Lee have risen 0.4% to $13.93 in after-hours trading Tuesday. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse. >To follow the writer on Twitter, go to Andrea Tse. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV