- Clorox Company (NYSE:CLX) plans to terminate approximately 200 positions, or roughly 4% of its nonproduction workforce, to streamline its operating model.
- The company expects to complete this transition over the 18 to 24-month timeframe.
- Clorox might incorporate more changes while executing this transformation.
- “We’re on track to generate ongoing annual savings of approximately $75 million to $100 million, with benefits beginning this fiscal year,” Chief Executive Officer Linda Rendle said in a statement.
- “Transformation isn’t a one-time event, and we’ll continue to implement changes as we execute this transformation,” she added.
- Clorox had cut roughly 2% of its nonproduction workforce in September, or approximately 100 people.
- Price Action: CLX shares are trading higher by 0.65% at $164 during the premarket session on the last check Friday.
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