Heinz: Workers' Buyouts Offered After Changes to Take Company Private

Wednesday, 16 Apr 2014 03:54 PM

By Jonna Lorenz

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
HJ Heinz Co. is offering buyouts to workers in Pittsburgh who may not be happy with changes to the company’s culture since Berkshire Hathaway and 3G Capital took the company private last year.

“Heinz realizes that its new dynamic and results-driven culture, focused on efficiency and meritocracy, may not be the perfect fit for every employee,” spokesman Michael Mullen said, according to Bloomberg News.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

Since last year’s $23.3 billion deal, CEO Bernardo Hees, formerly of Burger King, has taken cost-cutting measures, including eliminating thousands of jobs and announcing factory closures.

Heinz plans to fill vacancies created by the voluntary severance program, which is available to employees who have been with the company at least a year, according to Bloomberg. There are 775 employees in Pittsburgh. The buyouts include at least six months of pay.

The company had about 29,000 employees worldwide as of December, down from 31,900 eight months earlier, Bloomberg reported.

Heinz workers have until April 21 to accept the buyout offer, according to the Pittsburgh Post-Gazette.

Unions that represent Heinz workers worldwide met last month to discuss concerns about changes at the company, including fears that the company would combine jobs and increase workloads the Post-Gazette reported.

While the company says it will replace the jobs, some remain skeptical about the motivation for the buyouts, KDKA-TV reported.

“If they’re just offering it to Pittsburgh, it sounds like something other than a corporate cultural change,” Point Park University business professor Elaine Luther told the news station.

Heinz was founded in Sharpsburg, Pa., in 1869 and moved to Pittsburgh in 1890 before being incorporated in 1905.

Urgent: Assess Your Heart Attack Risk in Minutes. Click Here.

Related Stories:

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Tapeworm in Brain of Man for 4 Years Removed by Surgeons

Saturday, 22 Nov 2014 17:33 PM

A tapeworm that not only lived in a man's brain for four years but traveled from one side of the brain to the other has  . . .

Window Washer's 11-Story Fall Ends Atop Car - He Survived!

Saturday, 22 Nov 2014 17:14 PM

A window washer survived with critical injuries after falling 11 stories from the roof of a San Francisco bank building  . . .

Georgia O'Keefe $44 Million Painting Most for Woman Artist

Saturday, 22 Nov 2014 16:49 PM

A new world auction record for women artists was set when a painting by late American artist Georgia O'Keeffe sold for m . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved