Closures & Layoffs: Energizer Planning To Cut Staff, Manufacturing Space

Energizer Holdings Inc. is looking to energize its operating model by cutting costs.

The St. Louis-based battery manufacturer's plans include the following.
· Manufacturing facility rationalization, including support infrastructure, in the Household Products division;
· Reduction of the global workforce; and
· Reduction in overhead spending.

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Energizer expects to achieve gross annualized pre-tax cost savings of $175 million to $200 million.

The company has not provided details of the downsizings, saying that those will come in its initial financial outlook for 2013 during the fiscal fourth quarter earnings call in November.

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Libbey Re-Signs HQ Lease, Then Cuts Staff

After it signed a 15-year lease for new corporate headquarters, Libbey Inc. announced an additional reduction-in-force of its U.S. salaried staff, bringing the total planned reduction, including those announced in July 2012, to approximately 9% of its global managerial, professional and administrative workforce.

As part of its strategic plan to increase efficiency the company also announced modifications to its retirement benefits for its U.S. salaried associates. Libbey will freeze company contributions to its cash balance pension plan for U.S. salaried associates as of January 1, 2013.

Last month, Libbey signed a 15-year lease to keep its global corporate headquarters at Edison Plaza in downtown Toledo, OH.

The State of Ohio awarded Libbey a $1 million economic development grant for capital improvements and a $200,000 grant to enable Libbey to provide additional workforce training.

Libbey has also extended its lease with the City of Toledo for its Libbey Glass Factory Outlet store at the Erie Street Market and its lease with CAD Properties for its Libbey Glass Showroom at 335 N. St. Clair.

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Piccadilly Restaurants Files Chapter 11

After debt restructuring talks broke down with its lender, Atalaya Capital Management, a New York-based vulture fund, Piccadilly Restaurants LLC filed for Chapter 11 bankruptcy reorganization.

Piccadilly learned of an aggressive legal maneuver by Atalaya against the company. In response to the action, Piccadilly filed Chapter 11 to protect its value.

Thomas J. Sandeman, CEO of the Baton Rouge, LA-based Piccadilly Restaurants, noted that the filing was unexpected but unavoidable due to the litigation on the part of Atalaya.

A commitment for debtor in possession financing of up to $5 million has already been put in place, providing the company with liquidity.

While the current recession has negatively affected operations and cash flow, the company continues to produce positive EBITDA results and within the last year has doubled sales of its food service division, Sandeman said.

Piccadilly Restaurants has nearly 80 restaurants and over 70 food service operations and employs 3,500 people.

.	Company	Address	City	State	Closure or Layoff	No. of Workers Impacted	Impact Date
.	Wellpoint @ Empire Blue Cross Provider Services	11 Corp Woods Blvd.	Albany	NY	Closure	72	12/8/2012
.	Delfingen	11 Railroad Ave.	Arcade	NY	Closure	37	12/1/2012
.	Badger Technologies	5829 County Road 41	Farmington	NY	Closure	95	8/13/2012
.	United Technologies Corp.	950 Danby Road, Suite 100	Ithaca	NY	Closure	78	12/21/2012
.	Baker Victory Services-Intermediate Care Facility	790 Ridge Road	Lackawanna	NY	Closure	143	10/31/2012
.	Northrop Grumman Systems	65 Marcus Drive	Melville	NY	Closure	44	11/30/2012
.	Wellpoint @ Empire Blue Cross and Blue Shield	85 Crystal Run Road	Middletown	NY	Closure	36	12/8/2012
.	Saks Incorporated-Food and Beverage Services	611 Fifth Ave.	New York	NY	Closure	85	10/6/2012
.	Paragon Systems	At The Statue of Liberty and Battery Park	New York	NY	Closure	76	10/1/2012
.	Buckley Radio/Buckley Broadcasting/WOR	111 Broadway, 3rd Floor	New York	NY	Closure	73	11/11/2012
.	TPG Contract Services operating at the Moda Restaurant	135 W. 52nd St.	New York	NY	Closure	38	10/17/2012
.	The 152 Operating LLC/Tad's Steaks	152 W. 34th St.	New York	NY	Closure	28	11/2/2012
.	152 W 34 Inc., Pizza Hut/Tim Horton's	152 W. 34th Street	New York	NY	Closure	22	11/2/2012
.	Seedco	915 Broadway	New York	NY	Closure	15	12/15/2012
.	American Resort Management at the Holiday Inn Rochester Airport	911 Brooks Ave.	Rochester	NY	Closure	135	10/24/2012
.	SkillSoft Corp. / Element K Corp.	500 Canal View Blvd.	Rochester	NY	Layoff	115	1/31/2013
.	Tapecon Inc.	10 Latta Road	Rochester	NY	Closure	29	11/29/2012
.	Matrix Medical Network Community Care Health Network	50 Charles Lindberg Blvd.	Uniondale	NY	Layoff	48	11/2/2012

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