Jamba (JMBA) to Reorganize Support Functions; Will Cut Jobs and Store Developments
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Jamba (Nasdaq: JMBA) today announced that it is reorganizing its support functions and closing several underperforming stores.
In an effort to reduce operating costs, Jamba will eliminate about 53 positions from the company's support functions. Also, Jamba will close 10 underperforming company-owned stores in the remainder of '08 and terminate 7 signed leases for un-built stores.
Related to these reorganization steps, Jamba expects to incur a pre-tax restructuring charge of about $750,000.
Jamba, Inc., through its subsidiary, Jamba Juice Company, owns and franchises Jamba Juice stores.
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