Green Mountain Coffee Roasters (NASDAQ:GMCR.DL) 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.