CHARLOTTE, N.C. -- A local snack company Snyder's-Lance Inc. announced Tuesday that it plans to lay off approximately 250 positions, according to its press release.

Snyder's-Lance said in its press release that the workforce reduction was a part of its "performance transformation plan." The company, headquartered in Ballantyne, said its intention is to "substantially streamline the Company's processes and structure, drive out costs and complexity, and enhance long-term shareholder value."

Snyder's-Lance said the reductions will be effective by the end of the week. The company also plans to close its chips plant in Perry, Fla. by the end of September.

The Charlotte-based company sells products such as, Snyder's of Hanover, Lance, Kettle Brand, KETTLE Chips, Cape Cod, Snack Factory Pretzel Crisps, Pop Secret, Emerald, Late July, Krunchers! , Tom's, Archway, Jays, Stella D'oro, Eatsmart Snacks, O-Ke-Doke, Metcalfe’s skinny, in addition to other products.