GraceKennedy Limited has announced that the number of personnel who will be displaced as a result of the new organization which becomes effective December 1, 2006 is 89, broken down as follows:
Retirees 6
Redundancies 64
Personnel leaving (temporary, 19
contract, etc.)
The separation costs will be approximately $100 million. The expected savings from this re-organization are estimated to be $300 million in the calendar year 2007.
