Keurig shares dive 27% after news of layoffs

August 5, 2015 10:26 PM

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Keurig shares dive 27% after news of layoffs

Keurig Green Mountain's stock price nosedived almost 30% Wednesday after the company announced plans to lay off about 330 workers.

Keurig (GMCR), which makes instant coffee brewers and pods, said its sales fell 5% last quarter. That's largely due to a drop in sales of its brewers, which were down 26%.

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