CHARLOTTE, N.C. -- Snyder's-Lance, the snack-making company based here in Charlotte, will be cutting jobs and costs.

In a news release, the company said it planned on starting a major program to reduce its expenses. Its earnings were around $16.8 million in the first quarter. That's down about 15 percent from the same period last year.

There isn't a specific timetable yet on exactly when the job cuts would happen, although the company hopes to start its cost cutting in the third quarter, saving $22 to $25 million a year.

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