facebook
twitter
rss
account
search
search
 

Kraft to lay off 1,600 in 2012

Jan. 17, 2012 at 1:28 PM   |   Comments

NORTHFIELD, Ill., Jan. 17 (UPI) -- Kraft Foods said Tuesday it would lay off 1,600 workers in North America in 2012 to position the company for splitting up its grocery and snack operations.

The layoffs are scheduled "to help ensure its North America-based snacks and grocery businesses are well-positioned to become two independent public companies before the end of 2012," the company said in a statement.

"When we announced our decision to create two world-class companies in late August, we said both would be leaner, more competitive organizations," Kraft Chairman and Chief Executive Officer Irene Rosenfeld said in a statement.

"We're confident that this transformational work will improve effectiveness and fuel future growth of both companies," she said.

As part of the new strategy, after the spin off, Kraft said it would eliminate two and keep two of its four U.S. management centers.

The firm's Beverages business unit will move from Tarrytown, N.Y. and the Planters brand will move from East Hanover, N.J., the firm said. Both are headed to the metropolitan Chicago area by the end of the year.

Most employees affected by the move will be offered a chance to relocate and stay with the company, the statement said.

In addition, Kraft said it would close its Glenview, Ill., management center by the end of the year.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
4
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
5
Brent losing steam, WTI showing gains Brent losing steam, WTI showing gains
Trending News
Around the Web
x
Feedback