Jobs to go at Hershey

Jobs to go at Hershey

China continues to be an issue for Hershey, which today (19 June) cut its forecast for 2015 sales for the second time this year thanks to challenges in the market. Meanwhile, around 300 jobs are to go at the US confectionery giant as it tries to react quicker to changing market trends. Nestle, which has had its own issues in China, this week also indicated growth in parts of Africa had not been as rapid as it had hoped. And in the week in which we kicked off our management briefing on the latest developments in sustainable sourcing, a French government minister made claims about the way Ferrero sources ingredients for Nutella.

Hershey to cut jobs as outlook lowered again
Hershey today (19 June) announced a "productivity initiative" that will result in the loss of around 300 jobs - as it again lowered its forecast for full-year sales.

French environment minister launches Nutella attack
France's environment minister, Ségolène Royal, has appealed to consumers to stop eating Nutella to help protect the Earth's eco-systems.

ConAgra "looking forward" to engaging with activist Jana
ConAgra Foods said that it is "looking forward" to engaging with Jana Partners after the activist investment vehicle disclosed a 7.2% stake in the food group.

Nestle - Africa cuts "not major restructuring"
Nestle has played down news it plans to reduce its workforce in equatorial Africa, insisting the move "does not signify a major restructuring" in the region.

Editor's viewpoint: Waitrose's personalised promos will stir industry
UK grocer Waitrose has got industry watchers talking this afternoon (17 June) with the launch of a promotional programme that lets consumers choose which products they want to buy on offer. Rivals and suppliers will be watching very closely.

Nestle - Maggi recall will cost at least INR3.2bn
Nestle has given an initial indication of the financial impact of the recall of Maggi noodles that Indian regulators allege are tainted with excess lead.

Beef price deal sees French slaughterhouse block lifted
The president of French farmers union the FNSEA has announced the lifting of the blockades of around 20 slaughterhouses, following an agreement with meat processing firms and retailers on increasing beef prices yesterday evening.

USDA points to industry practices in bird flu spread
The US Department of Agriculture has alleged industry practices may have contributed to the spread of bird flu that has resulted in the death of more than 47 million birds.

Sustainability Watch: Mars aims to support farmers with new fund
Reflecting not only the increasing emphasis food companies are placing on their agricultural supply chains but on supporting smallholder farmers specifically, Mars and Danone have jointly launched the Livelihoods Fund for Family Farming. Barry Parkin, chief sustainability officer and health & wellness officer at Mars, spoke with Ben Cooper about the initiative and the positive impact the founding companies hope it will bring.

Briefing: Sustainable sourcing - Change on palm oil too slow for some
A group of major consumer goods companies and investors have publicly called on the Roundtable on Responsible Palm Oil (RSPO) to strengthen its standards following mounting criticism of the multi-stakeholder platform. This has left the RSPO pondering whether it can afford to continue to move at a pace that keeps less ambitious companies engaged or whether it should allow more progressive members to set the agenda, Ben Cooper reports.