CHARLOTTE, N.C. — Snyder’s-Lance, Inc. said it will close a chips manufacturing plant in Perry, Fla., and reduce its global workforce by approximately 250 positions. These actions are part of a broad-based performance transformation plan designed to streamline the company’s processes and structure and reduce costs and complexity.
“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,” said Brian Driscoll, president and chief executive officer of Snyder’s-Lance. “However, this is a required first step to improve our financial performance, balancing costs and expected levels of profitability in a very competitive environment.”
The plant is expected to close by the end of September. Production will be moved to the company’s remaining chips plants.
Additionally, the company plans to restructure its sales organization and has named John Maples as chief customer officer. Mr. Maples joined Snyder’s-Lance in 2015 and most recently was president, Direct Sales Division. Frank Schuster, currently president, DSD Division, has been named president, Sales Execution, reporting to Mr. Maples.
“These actions are in-line with our previously communicated intentions to initiate a broad-based strategic plan to optimize our cost structure,” Mr. Driscoll said. “We will provide a comprehensive overview of the multi-year transformation plan when we report our second-quarter financial results on Aug. 8."
