Tupperware CEO Says Job Cuts Unlikely
1/30/2009
Tupperware Brands Corp (TUP.N) is unlikely to lay off employees or roll out a major cost-cutting programme in spite of a global recession, Chief Executive Rick Goings said on Thursday.
"The last thing to cut is your talent," Goings said in an interview at the annual meeting of the World Economic Forum in Davos, Switzerland. "This is not a time to build new factories or excess capacity, but I don't see any (need for) reengineering programmes out there for us."
Instead of cutting staff, Tupperware will trim capital spending by a third this year.