Whole Foods Job Cuts May Cost Up To $22 Million

Whole Foods Market Inc. said late Wednesday that recently announced layoffs will cost the company up to $22 million in the fiscal fourth quarter. In a Securities and Exchange Commission filing, the company estimates the elimination of 1,500 jobs will result in a one-time charge of $15 million to $22 million. "The actual charge may vary based on various factors, including whether affected team members choose to immediately receive the transition and severance pay, whether affected team members choose to continue to work during the eight-week transition period and the number of affected team members that apply for and receive a different job with the Company," Whole Foods said in the filing. Shares declined 0.4% to $31.51 in the after-hours session.