Philadelphia-based Checkpoint Systems Inc. announced plans to expand a restructuring program to cut expenses and jobs.
The maker of anti-theft devices for retail chains said its new plans would affect 1,000 existing employees, up from the 204 in its original scheme. Checkpoint said it had "already taken steps to eliminate three senior executive positions" and intends to "aggressively take out layers of management."
In addition, Checkpoint plans to close four production facilities, but did not specify where in its news release.
The expanded restructuring is aimed at producing cost savings of $49 million in 2012 compared with the $20 million to $25 million in savings contemplated by the previous plan.