“RAI Announces Cost Savings Program”

Reynolds Announces Cost Savings Ahead of UBS Consumer Conference
This morning ahead of the UBS Global Consumer Conference Reynolds American announced it will be reducing its US workforce by 10% through 2014, with most employees leaving on a voluntary basis. Reynolds stated the cost savings program will generate $25 mm in savings by the end of 2012, growing up to $70 mm in annual savings though 2015. The company noted they will update their guidance when they discuss 1Q12 earnings.

This story was provided via Nik Modi – UBS online newsletter.

Thoughts? Who is taking a package!

2 comments ↓

#1 Farmboy on 03.15.12 at 7:18 AM

Left sometime ago – I now market cigars! Love that aroma!

#2 Miami Heat on 04.03.12 at 10:00 PM

I took my early ticket – just got tired of the mismanagement and saw this as a great option. I need to get away from tobacco. Thinking about playing a lot of golf and doing some fishing 🙂

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