UK: Cadbury silent on cost-cutting plans
Cadbury Schweppes has remained quiet on reports that it is planning to cut around GBP200m (US$395.7m) in costs - including a move from of its central London offices.
"We will be releasing details of any cost cuts in our update on 19 June," a spokesperson for the UK confectioner told just-food today (1 June).
According to a report in the Financial Times which cited an unnamed source, the cost-saving programme is aimed at lifting profit margins at the group's core confectionery business.
Cadbury's previous four-year 'fuel for growth' strategy succeeded in driving up sales, but the company failed to meet its profit margin targets.
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Workers opposed to plans by Cadbury Schweppes to cut 700 jobs and close a manufacturing site in the country have demanded more information from the company for the reasons behind the move....
Cadbury Schweppes was due to meet the UK's largest trade union today (12 November) after workers at four plants voted in favour of a ballot on strike action over the closure of a site in the country....
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