”Made in China” Ping.
(Please FReepmail me if you would like to be on or off of the list.)
Posted on 10/10/2007 7:00:00 PM PDT by JACKRUSSELL
(TORONTO)--Canadian pet food maker Menu Foods is cutting its workforce by as much as 15 percent and raised the estimated costs of its tainted-pet-food recall by 22 percent.
The largest maker of wet cat and dog food in North America said Wednesday the volume of customer returns and associated costs are greater than originally anticipated.
It now estimates the costs at 55 million Canadian dollars (US$56 million; €39.59 million), up 10 million Canadian dollars (US$10.2 million; €7.21 million) from earlier estimates.
Menu Foods Income Fund had 924 employees at the end of last year. Company spokesman Robert Merrick said the cuts would affect roughly 92 to 140 jobs......
......"What happened to Menu Foods and the pet food industry six months ago is unprecedented, and today's announcements about right-sizing and restructuring our business are part of the impact from the largest pet food recall the industry has seen," Menu Foods said in a statement.
"We were saddened to have to announce the steps taken today to reduce our workforce among other changes."
The company said its CEO has reduced his compensation by 22 percent, "with the objective of 'sharing the pain.'"......
(Excerpt) Read more at iht.com ...
Salmonella.
pinging
I believe dogs (and cats) are the best friends you can ever have, blessings from God, the true definition of unconditional love.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.