- Clarcor (CLC -4.1%) says it will cut 3.2% of its workforce to reduce operating expenses, citing long-term strategic initiatives and broader economic conditions, according to an SEC filing.
- CLC says the move will affect ~190 employees and expects to recognize ~$5.2M in related pre-tax restructuring charges during Q4.
- CLC says it continues to analyze its cost structure and evaluate other potential restructuring and cost reduction opportunities in light of expectations that the current low sales growth environment is likely to continue in FY 2016.