Chiquita Announces Cost-Cutting Plan
CHARLOTTE, N.C.-- Chiquita's top banana is out. Months after leading the company's move to Charlotte, Chiquita announces Fernando Aguirre will leave as part of a major reconstruction of the company and following lower second-quarter earnings.
The company is planning $60 million in cost-cutting by reducing overhead and eliminating senior management positions.
Chiquita reported net income of $6 million dollars in the second-quarter. That is down 92 percent from $78 million in the same quarter last year.
Chiquita has hired 158 local employees for its headquarters at the NASCAR plaza in Uptown. Another 102 employees have already been relocated to Charlotte.
Chiquita received more than $24 million in state and local incentives to move to Charlotte. The Charlotte Chamber says if Chiquita does not live up to its commitments then Chiquita does not get the money.