Sara Lee Cuts 390 Jobs to Save $39 Million
NEW YORK (TheStreet) -- Sara Lee (SLE) announced Tuesday that it will be eliminating 390 jobs in Europe during the next three years amid the sale of its household and body-care units.
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) - Get Procter & Gamble Company Report
, 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.
TheStreet Recommends
>To contact the writer of this article, click here:
Andrea Tse
.
>To follow the writer on Twitter, go to
.
>To submit a news tip, send an email to:
.
RELATED STORIES:
>> Sara Lee CEO Resigns; Is a Breakup Next?
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
