11.09.12
Apparently, you can't jumpstart a company with dead batteries. Energizer Holdings said weak battery sales were the reason why it was cutting more than 10% of its workforce, or about 1,500 people.
Plans include closing or streamlining battery factories and packaging facilities in the United States, Malaysia and Canada and streamlining lights manufacturing in China. Energizer expects pre-tax cost savings of about $200 million from the restructuring, and said the majority of its charges should be recorded within the next 12 to 18 months.
St. Louis-based Energizer also markets Banana Boat and Hawaiian Tropic sunscreens,and Schick Wilkinson Sword, Edge, Skintimate and American Safety Razor shaving products. For the fourth quarter ended Sept. 30, the company said organic sales of personal care items such as razors were essentially flat, but expectspersonal care sales should rise at a mid-single digit clip this year.