Kraft Heinz Co. plans to eliminate 400 jobs this year as part of global restructuring programs.
In an Aug. 13 filing with the U.S. Securities and Exchange Commission, Kraft Heinz said 100 of the jobs were eliminated in the first quarter of 2019. Another 100 were eliminated in the second quarter.
“We have restructuring programs globally, which are focused primarily on workforce reduction and factory closure and consolidation,” the company said.
Kraft Heinz said the restructuring programs resulted in expenses of $27 million during the three months ended March 30, including $1 million of severance and employee benefit costs, $9 million of non-cash asset-related costs, $15 million of other implementation costs and $2 million of other exit costs.
Kraft Heinz’s restructuring program is expected to cut 1,800 hourly positions worldwide. Approximately 1,400 of the job cuts took place in 2018, primarily in Europe, Asia, Canada and other locations outside the United States.
Shares of Kraft Heinz have been on a downward slide since the company reported weak second-quarter earnings on Aug. 7. In early morning trading on Aug. 14, the company’s share price dipped to a record low of $25.28.
By Eric Schroeder
Source: Food Business News
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
