Jack In The Box (JACK) Sees Further Restructuring Charges Related to Review of Overhead Structure
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Within its Q2 earnings report, Jack In The Box (Nasdaq: JACK) said it has been engaged in a comprehensive review of its overhead structure, including evaluating opportunities for outsourcing, restructuring of certain functions and workforce reductions. As a result, restructuring charges of $1.5 million, or approximately $0.02 per share, were recorded during the quarter which relate primarily to severance costs for positions that were eliminated. These charges are included in “impairment and other charges, net” in the accompanying consolidated statement of earnings. The company expects to incur additional restructuring charges during fiscal 2012 relating to this review.
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