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"With minor exceptions, we have streamlined our administrative workforce and completed the planned reductions, effectively delayering the management structure across all business units," said Robert W. Humphreys, chairman and CEO of Delta Apparel. "We recorded $2.2 million of severance-related expenses associated with this initiative in the fourth quarter of fiscal 2014, and anticipate recognizing almost $6 million of the expected $7 million in annualized savings in fiscal year 2015."
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