Energizer Holdings Inc. (ENR: Quote) announced Tuesday morning that it has completed its initial assessment of its cost structure and operating model. The company expects to achieve gross annualized pre-tax cost savings of $175 to $200 million. The company announced plans to reduce its global workforce, but did not specify the number of jobs it would eliminate.
Energizer Holdings rose sharply in early trade Tuesday and took out the session highs around 1:00PM. The stock ended the day higher by 7.30 at $75.22 on the highest volume of the year. Energizer broke out to a month and a half high and re-crossed both its 50 and 200-day moving averages.
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by RTT Staff Writer
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