The charges are expected to range between $50 million and $60 million and reflect expenses associated with planned workforce reduction, asset impairments, lease expenses related to facilities to be exited, termination of contractual obligations and other miscellaneous charges, the company said in a statement.
The workforce reduction initiative will result in the elimination, on a net basis, of nearly 700 positions at the company's facilities across the United States, including approximately 500 administrative positions, Ahold said.
Ahold cautioned that the amounts above are preliminary and may be subject to change.
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