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This excerpt taken from the PBG 8-K filed Sep 16, 2009. 2007
Restructuring Charges
In the third quarter of 2007, we announced a restructuring
program to realign the Company’s organization to adapt to
changes in the marketplace, improve operating efficiencies and
enhance the growth potential of the Company’s product
portfolio. We substantially completed the organizational
realignment during the first quarter of 2008, which resulted in
the elimination of approximately 800 positions. Annual cost
savings from this restructuring program are approximately
$30 million. Over the course of the program we incurred a
pre-tax charge of approximately $29 million. During 2007,
we recorded pre-tax charges of $26 million, of which
$18 million was recorded in the U.S. & Canada
segment and the remaining $8 million was recorded in the
Europe segment. During the first half of 2008, we recorded an
additional $3 million of pre-tax charges primarily relating
to relocation expenses in our U.S. & Canada segment.
We made approximately $24 million of after-tax cash
payments associated with these restructuring charges.
In the fourth quarter of 2007, we implemented and completed an
additional phase of restructuring actions to improve operating
efficiencies. In addition to the amounts discussed above, we
recorded a pre-tax charge of approximately $4 million in
selling, delivery and administrative expenses, primarily related
to employee termination costs in Mexico, where an additional 800
positions were eliminated as a result of this phase of the
restructuring. Annual cost savings from this restructuring
program are approximately $7 million.
This excerpt taken from the PBG 8-K filed Jul 8, 2009. 2007 Restructuring Charges In the third quarter of 2007, PBG announced a realignment in the Company’s organization to adapt to changes in the marketplace and improve operating efficiencies. Over the course of the program, the Company incurred pre-tax charges of $29 million or $0.09 per diluted share. Of this amount, we recorded $2 million in the first quarter and $1 million in the second quarter of 2008, primarily relating to relocation expenses in our U.S. & Canada segment. This excerpt taken from the PBG 8-K filed Jun 2, 2009. 2007 Restructuring Charges In the third quarter of 2007, PBG announced a realignment in the Company’s organization to adapt to changes in the marketplace and improve operating efficiencies. Over the course of the program, the Company incurred pre-tax charges of $29 million or $0.09 per diluted share. Of this amount, we recorded $3 million in 2008, primarily relating to relocation expenses in our U.S. & Canada segment. This excerpt taken from the PBG 8-K filed Apr 22, 2009. 2007 Restructuring Charges In the third quarter of 2007, PBG announced a realignment in the Company’s organization to adapt to changes in the marketplace and improve operating efficiencies. Over the course of the program, the Company incurred pre-tax charges of $29 million or $0.09 per diluted share. Of this amount, we recorded $2 million in the first quarter of 2008, primarily relating to relocation expenses in our U.S. & Canada segment. These excerpts taken from the PBG 10-K filed Feb 20, 2009. 2008
Restructuring Charges
In the fourth quarter of 2008, we announced a restructuring
program to enhance the Company’s operating capabilities in
each of our reportable segments. The program’s key
objectives are to strengthen customer service and selling
effectiveness; simplify decision making and streamline the
organization; drive greater cost productivity to adapt to
current macroeconomic challenges; and rationalize the
Company’s supply chain infrastructure. We anticipate the
program to be substantially complete by the end of 2009 and the
program is expected to result in annual pre-tax savings of
approximately $150 million to $160 million.
The Company expects to record pre-tax charges of
$140 million to $170 million over the course of the
restructuring program, which is primarily for severance and
related benefits, pension and other employee-related costs and
other charges, including employee relocation and asset disposal
costs. As part of the restructuring program, approximately 3,150
positions will be eliminated including 750 positions in the
U.S. & Canada, 200 positions in Europe and 2,200
positions in Mexico. The Company will also close four facilities
in the U.S., as well as three plants and approximately 30
distribution centers in Mexico. The program will also include
the elimination of approximately 700 routes in Mexico. In
addition, the Company will modify its U.S. defined benefit
pension plans, which will generate long-term savings and
significantly reduce future financial obligations.
During 2008, the Company incurred pre-tax charges of
$83 million, of which $53 million was recorded in the
U.S. & Canada segment, $27 million was recorded
in our Europe segment and the remaining $3 million was
recorded in the Mexico segment. All of these charges were
recorded in selling, delivery and administrative expenses.
During 2008, we eliminated approximately 1,050 positions across
all reportable segments and closed three facilities in the
U.S. and two plants in Mexico and eliminated 126 routes in
Mexico.
The Company expects about $130 million in pre-tax cash
expenditures from these restructuring actions, of which
$13 million was paid in the fourth quarter of 2008, with
the balance expected to occur in 2009 and 2010.
For further information about our restructuring charges see
Note 16 in the Notes to Consolidated Financial Statements.
2007
Restructuring Charges
In the third quarter of 2007, we announced a restructuring
program to realign the Company’s organization to adapt to
changes in the marketplace, improve operating efficiencies and
enhance the growth potential of the Company’s product
portfolio. We substantially completed the organizational
realignment during the first quarter of 2008, which resulted in
the elimination of approximately 800 positions. Annual cost
savings from this restructuring program are approximately
$30 million. Over the course of the program we incurred a
pre-tax charge of approximately $29 million. During 2007,
we recorded pre-tax charges of $26 million, of which
$18 million was recorded in the U.S. & Canada
segment and the remaining $8 million was recorded in the
Europe segment. During the first half of 2008, we recorded an
additional $3 million of pre-tax charges primarily relating
to relocation expenses in our U.S. & Canada segment.
We made approximately $24 million of after-tax cash
payments associated with these restructuring charges.
In the fourth quarter of 2007, we implemented and completed an
additional phase of restructuring actions to improve operating
efficiencies. In addition to the amounts discussed above, we
recorded a pre-tax charge of approximately $4 million in
selling, delivery and administrative expenses, primarily related
to employee termination costs in Mexico, where an additional 800
positions were eliminated as a result of this phase of the
restructuring. Annual cost savings from this restructuring
program are approximately $7 million.
2008 Restructuring Charges In the fourth quarter of 2008, we announced a restructuring program to enhance the Company’s operating capabilities in each of our reportable segments. The program’s key objectives are to strengthen customer service and selling effectiveness; simplify decision making and streamline the organization; drive greater cost productivity to adapt to current macroeconomic challenges; and rationalize the Company’s supply chain infrastructure. We anticipate the program to be substantially complete by the end of 2009 and the program is expected to result in annual pre-tax savings of approximately $150 million to $160 million. The Company expects to record pre-tax charges of $140 million to $170 million over the course of the restructuring program, which is primarily for severance and related benefits, pension and other employee-related costs and other charges, including employee relocation and asset disposal costs. As part of the restructuring program, approximately 3,150 positions will be eliminated including 750 positions in the U.S. & Canada, 200 positions in Europe and 2,200 positions in Mexico. The Company will also close four facilities in the U.S., as well as three plants and approximately 30 distribution centers in Mexico. The program will also include the elimination of approximately 700 routes in Mexico. In addition, the Company will modify its U.S. defined benefit pension plans, which will generate long-term savings and significantly reduce future financial obligations. During 2008, the Company incurred pre-tax charges of $83 million, of which $53 million was recorded in the U.S. & Canada segment, $27 million was recorded in our Europe segment and the remaining $3 million was recorded in the Mexico segment. All of these charges were recorded in selling, delivery and administrative expenses. During 2008, we eliminated approximately 1,050 positions across all reportable segments and closed three facilities in the U.S. and two plants in Mexico and eliminated 126 routes in Mexico. The Company expects about $130 million in pre-tax cash expenditures from these restructuring actions, of which $13 million was paid in the fourth quarter of 2008, with the balance expected to occur in 2009 and 2010. For further information about our restructuring charges see Note 16 in the Notes to Consolidated Financial Statements. 2007 Restructuring Charges In the third quarter of 2007, we announced a restructuring program to realign the Company’s organization to adapt to changes in the marketplace, improve operating efficiencies and enhance the growth potential of the Company’s product portfolio. We substantially completed the organizational realignment during the first quarter of 2008, which resulted in the elimination of approximately 800 positions. Annual cost savings from this restructuring program are approximately $30 million. Over the course of the program we incurred a pre-tax charge of approximately $29 million. During 2007, we recorded pre-tax charges of $26 million, of which $18 million was recorded in the U.S. & Canada segment and the remaining $8 million was recorded in the Europe segment. During the first half of 2008, we recorded an additional $3 million of pre-tax charges primarily relating to relocation expenses in our U.S. & Canada segment. We made approximately $24 million of after-tax cash payments associated with these restructuring charges. In the fourth quarter of 2007, we implemented and completed an additional phase of restructuring actions to improve operating efficiencies. In addition to the amounts discussed above, we recorded a pre-tax charge of approximately $4 million in selling, delivery and administrative expenses, primarily related to employee termination costs in Mexico, where an additional 800 positions were eliminated as a result of this phase of the restructuring. Annual cost savings from this restructuring program are approximately $7 million. This excerpt taken from the PBG 8-K filed Feb 10, 2009. Restructuring Charges In the third and fourth quarters of 2007, PBG announced realignments in the Company’s organization to adapt to changes in the marketplace and improve operating efficiencies. Since the inception and through June 14, 2008, the Company incurred pre-tax charges of $33 million or $0.10 per diluted share. Of this amount, we recorded pre-tax charges of $3 million in the first half of 2008, primarily relating to relocation expenses in our U.S. & Canada segment. This excerpt taken from the PBG 8-K filed Sep 30, 2008. Restructuring Charges In the third and fourth quarters of 2007, PBG announced realignments in the Company’s organization. Since the inception of the program and through June 14, 2008, the Company incurred a pre-tax charge of approximately $33 million. Of this amount, we recorded $3 million in the first half of 2008, primarily relating to relocation expenses in our U.S. & Canada segment. During the third quarter of 2007, we recorded Restructuring Charges of $20 million or $0.06 per diluted share, of which $12 million was recorded in the U.S. & Canada segment and the remaining $8 million was recorded in the Europe segment. This excerpt taken from the PBG 8-K filed Jul 8, 2008. Restructuring Charges In the third and fourth quarters of 2007, PBG announced realignments in the Company’s organization. Since the inception of the program and through June 14, 2008, the Company incurred a pre-tax charge of approximately $33 million. Of this amount, we recorded $2 million in the first quarter of 2008 and $1 million in the second quarter of 2008, primarily relating to relocation expenses in our U.S. and Canada segment. This excerpt taken from the PBG 8-K filed Apr 23, 2008. Restructuring Charges In the third and fourth quarters of 2007, PBG announced realignments in the Company’s organization. The total pre-tax charge for the realignments is expected to be approximately $35 million. Since the inception of the program and through March 22, 2008, the Company incurred a pre-tax charge of approximately $32 million, with a pre-tax cash charge of approximately $2 million being recorded in the first quarter of 2008. | EXCERPTS ON THIS PAGE:
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