Lifecore Biomedical To Terminate 46 Full-time Employees Amid Strategic Workforce Reduction Plan
(RTTNews) - Lifecore Biomedical, Inc. (LFCR) announced Friday that on Monday it determined to implement a strategic reduction of the Company's workforce to terminate 46 full-time employees of the Company, representing approximately 9% of the Company's workforce, as part of an initiative to strategically optimize the Company's cost structure.
In connection with the workforce reduction plan, the Company estimates that it will incur termination benefit costs of approximately $1.0 million, which primarily consist of one-time severance benefits.
These costs are expected to be incurred in the first quarter of fiscal 2025 and paid during both the first and second quarters of fiscal 2025.
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Continued Consolidation Called For KOSPI
The South Korea stock market on Wednesday ended the three-day winning streak in which it had advanced more than 35 points or 1.4 percent. The KOSPI now sits just above the 2,590-point plateau and it's tipped to open under pressure again on Thursday.
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4 ชม. 27 นาทีที่ผ่านมา
TSX Ends Modestly Lower
The Canadian market ended weak on Wednesday, weighed down by losses in materials and technology sectors. Investors digested earnings updates from Canadian and U.S. companies, and awaited U.S. non-farm payroll data and Canadian GDP report, due later in the week.
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5 ชม. 26 นาทีที่ผ่านมา
Bank Of Japan Interest Rate Decision Due On Thursday
The Bank of Japan will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, setting the pace for a busy day in Asia-Pacific economic activity. The BoJ is expected to keep its benchmark lending rate unchanged at 0.25 percent.
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5 ชม. 27 นาทีที่ผ่านมา
Dollar Loses Ground Against Major Counterparts After GDP Data
The U.S. dollar shed ground on Wednesday after data showed an unexpected slowdown in the nation's GDP growth. Investors also digested strong private sector employment data and looked ahead to the crucial non-farm payroll data due later in the week.
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6 ชม. 36 นาทีที่ผ่านมา
Canadian Market Slightly Lower In Cautious Trade
Canadian stocks are turning in a mixed performance on Wednesday with investors largely reacting to earnings announcements, and U.S. economic data.
Materials stocks are among the notable losers, while consumer staples and utilities shares are finding good support.
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8 ชม. 42 นาทีที่ผ่านมา
German Inflation Climbs More Than Expected Dampening Bigger Rate Cut Hopes
Consumer price inflation in Germany increased more than expected to its highest level in three months in October and the core figure moved closer to 3 percent, damping expectations for a bigger size interest rate cut from the European Central Bank.
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9 ชม. 10 นาทีที่ผ่านมา
Swiss Market Ends Notably Lower
The Switzerland market ended notably lower on Wednesday after languishing in negative territory right through the day's session, as investors reacted to weak economic data, digested a slew of corporate earnings announcements, and looked ahead to some key U.S. economic data due later in the week.
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9 ชม. 28 นาทีที่ผ่านมา
U.S. Dollar Retreats As GDP Growth Slows
The U.S. dollar pulled back against its major counterparts in the New York session on Wednesday, as a slowdown in GDP growth outweighed optimism about strong ADP data.
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9 ชม. 40 นาทีที่ผ่านมา
