Kraft Foods to axe 400 jobs
Kraft Foods is to cut 400 jobs in North America in a bid to reduce business costs.
Kraft spokesperson Renee Zahery said the redundancies will represent a cut of about 1% in the company’s North American work force, and will mainly affect employees in the Chicago, Wisconsin, New York, New Jersey and Toronto offices.
The nation’s largest food and beverage maker is in the middle of a three-year transformation that aims to improve sales and profits by lowering costs, launching new products and boosting marketing. The company has said it hopes to be able to deliver cost savings of $1bn (