USA: Kraft to cut 7,500 jobs as Nabisco operations streamlined
US branded food giant Kraft Foods has warned that 7,500 jobs will soon be axed as it streamlines its operations with biscuit and cracker producer Nabisco, which it acquired for US$18.9bn in late 2000. Kraft said that the Nabisco merger would generate annual savings of US$600m by 2004. For this year, savings are expected to reach about US$300m.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Could BRF's Turkey move pave way for OneFoods IPO?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Ferrero insists Nutella not pulled from shelves
- Lindt sees FY sales acceleration on Europe growth
- Unilever sets packaging target