Green Mountain Coffee Roasters (NASDAQ:GMCR) will be making cuts in its employee rolls. The company announced that 74 full-time employees at two of its smaller facilities -- one in Castroville, Calif., and the other in Toronto -- will be part of a "workforce reduction." Seasonal layoffs will also affect 36 workers in Toronto and another facility in Montreal.
The firm pointed out that these moves will cover less than 2% of its total North American workforce as of the end of 2012.
Green Mountain expects these cuts to be complete by mid-May. It anticipates that it will book a one-time charge of $600,000-$650,000 in its Q2 for costs related to the redundancies.
Fool contributor Eric Volkman has no position in Green Mountain Coffee Roasters. The Motley Fool recommends Green Mountain Coffee Roasters. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.