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.
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