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Stock Market & Financial Investment News

News Breaks
March 26, 2013
17:43 EDTSVUSuperValu sees charges of $65M-$70M from workforce reduction
SuperValu announced in a regulatory filing that in regards to its national workforce reduction the company expects to incur total pre-tax cash charges for severance and employee-related costs of approximately $65M to $70M and a non-cash charge for accelerated vesting of certain stock based compensation arrangements of approximately $10M. Of these amounts, the company expects that $55M to $60M will be paid in its fiscal 2014 first quarter ending June 15 , and the majority of the remainder will be paid in its fiscal 2014 second quarter.
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