Tags: Kraft | Heinz | Jobs | Factories

Kraft Heinz to Cut 13 Percent of Jobs, Shut Factories in Integration

Image: Kraft Heinz to Cut 13 Percent of Jobs, Shut Factories in Integration
(Getty/Scott Olson)

Thursday, 04 May 2017 01:59 AM

Kraft Heinz Co. said on Thursday it would cut about 13 percent of its workforce, close factories and consolidate its distribution network as part of its efforts to merge Kraft Foods and H.J. Heinz.

Kraft Heinz said it would incur pre-tax costs of $2 billion related to the elimination of 5,150 positions, the shutting of six factories and the streamlining of its distribution.

The company will also spend an additional $1.3 billion on capital expenditures related to the integration on top of the $995 million it has spent since the merger in 2015. 

© 2017 Thomson/Reuters. All rights reserved.

 
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Kraft Heinz plans to cut about 13 percent of its workforce, close factories and consolidate its distribution network as part of its efforts to merge Kraft Foods and H.J. Heinz.
Kraft, Heinz, Jobs, Factories
93
2017-59-04
Thursday, 04 May 2017 01:59 AM
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