CHARLOTTE, NC (FOX 46 WJZY) - 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