Snyder's-Lance will layoff 250 employees by end of week

- Snyder's-Lance, Inc., based in the Ballantyne area, has announced that they plan to layoff about 250 employees by the end of the week.

In a press release, the company said the layoffs are intended to "substantially streamline the Company's processes and structure, drive out costs and complexity, and enhance long-term shareholder value." 

The layoffs are part of a larger "performance transformation plan" which also includes closing a plant in Florida by September of this year, and appointing a new Chief Customer Officer.

"This has been a very difficult decision for our organization and we sincerely appreciate how difficult this is for our impacted team members and their families.  However, this is a required first step to improve our financial performance, balancing costs and expected levels of profitability in a very competitive environment," said President and CEO Brian Driscoll. "These actions are in-line with our previously communicated intentions to initiate a broad-based strategic plan to optimize our cost structure.  We will provide a comprehensive overview of the multi-year transformation plan when we report our second quarter financial results on August 8."

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