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), 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: firstname.lastname@example.org.