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July 11, 2019

Campbell cuts jobs in quest for “focus”

Lance crackers and Plum baby-food owner Campbell Soup Co. has cut jobs in its domestic market as part of the US giant's plans to become more focused and speed-up decision-making.

By Dean Best

Lance crackers and Plum baby-food owner Campbell Soup Co. has cut jobs in its domestic market as part of the US giant’s plans to become more focused and speed-up decision-making.

Campbell refused to confirm the number of jobs affected but just-food understands under 100 posts are to be cut.

In a statement provided to just-food, Campbell said “a small number of North American employees” were to see their roles axed.

The company added: “Our new strategic plan and operating model provide the focus and clarity we need to produce steady, sequential improvements resulting in a sustainable growth model. This model will accelerate decision-making, drive additional clarity and execution of the portfolio roles of our brands, and further increase our effectiveness and efficiency. The changes we’ve announced today will allow us to become a leaner, more agile organisation. These decisions are always very difficult, but necessary to build a more focused organisation that has the stability and discipline to return Campbell to sustainable, profitable growth.”

Campbell set out the results of its strategic review last August, a series of moves that included plans to sell off its international and fresh foods operations.

At the time, interim CEO Keith McLoughlin also outlined how Campbell would look to change the way its remaining businesses operated. “Our plan will build upon our existing strengths. Our new leadership team will concentrate on significantly improving operational discipline through a rigorous management model that aligns the enterprise from strategy through execution. We are moving forward with a sense of urgency to complete these changes in fiscal 2019, setting the foundation for sustainable, profitable growth in fiscal 2020 and beyond. We will pursue further actions in addition to those announced today to optimise our portfolio and performance,” he said.

The company has since exited the fresh-foods market through a series of disposals. Campbell has yet to clinch a deal for its international assets. In June, CNBC reported talks with Mondelez International fell apart after failing to reach agreement on a price for assets that include Australia’s Arnott’s and Denmark’s Kelsen.

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