February 27, 2012 / 2:13 PM / 6 years ago

UPDATE 1-SunOpta to restructure some units, cut 6 pct jobs

Feb 27 (Reuters) - SunOpta Inc said it will restructure some of its underperforming segments and cut about 6 percent of its workforce.

The Toronto-based organic food processor said it will shut down its fruit segment and create a new consumer products group to focus on non-grains based consumer packaged goods.

SunOpta expects to incur severance costs of about $500,000 during the first half of 2012, but sees the realignment helping it save $3 million, before tax, annually.

The company expects to post a net loss of 11 cents per share in the fourth-quarter, and take a non-cash charge of about $8.6 million, or 13 cents a share.

In the last two reported quarters SunOpta has posted a drop in profits as margins have been squeezed.

Shares of SunOpta, which will report its fourth-quarter results on March 6, closed at C$5.27 on Friday on the Toronto Stock Exchange.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below