date:Aug 04, 2012
The strategic restructuring announcement came as the US company posted its 11% net sales surge in its preliminary Q3 earnings, officially out August 8.
The accelerated cost reduction program was initiated on July 31 toimprove organisational effectiveness and reduce costs, Ralcorp said.
The overall aim will be to ensure pre-tax savings of between $26m-$31m for fiscal 2013, it said.
However, the move will come at a hefty cost of $17m-$22m as a result of employee separation and related expense