MINNEAPOLIS — G&K Services Inc. has taken actions to reduce expenses, including plant closings, layoffs and outsourcing, as a result of the continued difficult economic environment, and it has established reserves for environmental matters and recent changes in compensation laws, the company reports.
The expenses associated with these activities, additional reserves and continued economic softness will result in fiscal 2009 first-quarter revenue and earnings per diluted share results that will be below previously provided guidance, the company adds.
