U.S. Markets closed

Green Mountain cutting more than 100 jobs

NEW YORK (AP) -- Green Mountain Coffee Roasters Inc. said Wednesday that it will cut 74 full-time positions from its workforce at two facilities in California and Ontario.

In addition, the Waterbury, Vt.-based company said seasonal layoffs will result in the loss of another 36 positions at facilities in Toronto, Montreal and Quebec by May 11. Taken together, the company says the reductions represent less than 2 percent of its North American workforce.

In a statement CEO Brian Kelley said the moves are intended to "enhance manufacturing and logistics efficiency" across the company's nine North American production locations.

"These changes align the size of our workforce with production demand at these particular locations," he said. Green Mountain, which sells Keurig brewers and K-Cup coffee packs, said it will increase the ratio of seasonal workers.

A company representative wasn't immediately available for comment.

The company expects a one-time, pre-tax charge of $600,000 to $650,000 in its second fiscal quarter as a result. It said the charge will be immaterial to its results.

Green Mountain closed up a penny at $54.61.