Aramark Corp. expects to record $30 million to $35 million of net severance charges during the quarter ending in March related to job cuts last month, the Philadelphia services giant said Tuesday in its quarterly report to the Securities and Exchange Commission.
The cuts, designed to “streamline and improve efficiencies and effectiveness” of sales and administrative operations, affected two tenths of 1 percent of Aramark’s 270,000 employees, an Aramark spokeswoman said. The company did not provide a specific number, but that works out to 540 positions.
Included in the cuts were just over 1 percent of the positions in the Philadelphia area, where the company employs 6,500. That works out to about 65 positions, but that included the elimination of open positions and retirements, the spokeswoman said. _ Harold Brubaker