- Dollar Tree (NASDAQ:DLTR +1%) announced it will eliminate 370 positions, including 100 vacant positions at its Family Dollar store support center in Matthews, NC.
- The moves are part of the company's integration process with Family Dollar.
- The discounter intends to continue to operate and grow both the Family Dollar and Dollar Tree banners.
- Looking ahead, management says it is well positioned to achieve its goal of $300M in combined run rate annual synergies by the end of its third year following its July 2015 acquisition.
- The company expects to incur pre-tax expense of approximately $6M during FY16 related to the announced restructuring.
- Dollar Tree spills Q2 earnings on August 25.
- Source: Press Release