TROPICANA ANNOUNCES STAFF REDUCTIONS
TROPICANA ANNOUNCES STAFF REDUCTIONS BRADENTON, Fla., April 22 /PRNewswire/ -- Tropicana Products, Inc.
today announced a reduction of 233 salaried positions companywide. These reductions are being made to further improve the company's cost effectiveness. As part of this reduction, 105 salaried positions will be affected at its Bradenton, Fla. headquarters. Recent reductions have also been made at its City of Industry and Jersey City facilities and a number of open positions throughout the company will not be filled.
William G. Pietersen, president of Tropicana, explained today's action: "As we have previously stated on a number of occasions, we have examined our entire company from a point of view of operating the company more cost-effectively. The actions announced today are a result of that review process. While we are understandably proud of the tremendous volume growth we have achieved over the past decade we believe it is necessary in today's competitive economy to make sure that we are organized as efficiently as possible." He added: "We formulated a strategy to increase our efficiency while maintaining our high quality. This allows us to invest in our strong future growth plans." Staff and management positions were eliminated across the board throughout the company, including administration, finance, human resources, and operations supervision. "Our commitment is to continue to improve upon Tropicana's performance as a strong, competitive and healthy company," stated Pietersen. Tropicana is a wholly owned subsidiary of The Seagram Company Ltd. All severance and other charges related to the work force reduction were reflected in Seagram's Statement of Income for the 12 months ended Jan. 31, 1992, and no additional charges are expected to be incurred as a result of today's announcement. Pietersen said, "We anticipate that the positive financial impact of today's actions will begin to be reflected in our financial statements for the second quarter of the current year." Tropicana Products, Inc. is the leading producer of premium juices and juice beverages in the United States. The company's products are sold throughout the United States, as well as in Canada, France, Great Britain and Japan. Among the brands of Tropicana Products, Inc. are Pure Premium Orange Juice, Pure Premium Home Style Orange Juice, Tropicana Twister, and other fruit juices and beverages. -0- 4/22/92 /CONTACT: Terri McNorton of Tropicana Products, 813-747-4461/ CO: Tropicana Products, Inc. ST: Florida IN: FOD SU: PER
JB-AW -- FL007 -- 1283 04/22/92 12:30 EDT
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|Date:||Apr 22, 1992|
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