This excerpt taken from the GWW 10-K filed Feb 27, 2009.
NOTE 22 – SUBSEQUENT EVENTS
On February 11, 2009, the Company announced the elimination of 300 to 400 jobs across the Company’s work force as a result of lower sales volume and the combination of its Lab Safety Supply and Grainger Industrial Supply businesses. One-time cash severance charges of approximately $15 million to $20 million are expected to be recognized between now and the end of the calendar year. Severance payments will be paid out over varying periods.