Snyder’s-Lance Restructures Accounting Division
America’s second-biggest manufacturer of salty snacks, Snyder’s-Lance Inc, has announced two dozen layoffs at its accounting department in Charlotte, North Carolina.
The Charlotte-based company has confirmed that 24 employees currently working full-time in accounts receivable and accounts payable will be losing their jobs. The snack company informed the affected employees about the likely job cuts back in March.
Snyder’s-Lance is consolidating its accounting department and moving all related operations to its corporate offices in Hanover, Pennsylvania. The transition has been ongoing for the past several weeks. The consolidation was completed last week, after which the affected employees were let go.
Company spokesperson Joey Shevlin said, “This realignment brought together groups that had been in multiple locations and created a single shared services team that is more efficient and able to serve our business partners more effectively.”
The layoffs follow months after the company’s former CEO, Carl Lee, parted ways with Snyder’s-Lance as the company faced financial difficulties. The company has been experiencing declining profitability, which showed no signs of improving in the latest quarter when the former CEO left.
The new CEO, Brian Driscoll, who has been a board member of Snyder’s-Lance, comes with the experience of serving as a CEO at Diamond Foods, Inc., which was bought by Snyder’s-Lance last year.
Snyder’s-Lance was formed in 2010 from the merger of Charlotte-based Lance, Inc. and Hanover-based Snyder’s of Hanover. Since the two companies had their headquarters in different states, their corporate operations had to be consolidated. The two companies behind Snyder’s-Lance have a century-long history in the business.
Signature snacks that Snyder’s-Lance manufactures include “Snyder’s of Hanover” pretzels and “Lance” peanut butter sandwich crackers.
Snyder’s-Lance has been receiving grants from the City of Charlotte, under the pretense that the company would create jobs for locals. Snyder’s-Lance had earlier promised to add 130 jobs in the city.
“Charlotte snack maker lays off dozens in its accounting department,” WBTV.com, July 18, 2017.
“The history of Snyder’s-Lance,” Snyder’s-Lance Inc, last accessed July 19, 2017.