Sector News

Heinz may eliminate 100 NZ jobs as part of region-wide cuts

October 16, 2014
Consumer Packaged Goods
H.J. Heinz (New Zealand) may eliminate 100 jobs as part of region-wide cuts by its parent, the US-based food manufacturer, in the face of “extremely competitive” markets.
 
Heinz is cutting 245 jobs across its Australian, Papua New Guinea and New Zealand operations, of which 100 may be lost locally, the Hasting-based subsidiary said in a statement. Heinz, which includes the Wattie’s, Golden Circle, Greenseas, Eta, Weight Watchers and Cottee’s brands, employs 1,600 people in New Zealand of a total 2,700 across the region.
 
“Heinz announced today that it is implementing a new, streamline structure for its Australia, PNG and New Zealand businesses,” the company said. “These changes will enable the company to become more flexible and efficient to support growth in extremely competitive local and global markets. The new structure will underpin the drive for category and brand growth.”
 
Heinz New Zealand reported a 19 percent drop in annual profit to $50.1 million in the year ended April 28, 2013, according to financial statements lodged with the Companies Office. Sales rose 5.9 percent to $773 million, while the cost of sales rose 8.6 percent to $592 million. Since then the company has changed its balance date, and in the eight months ended Dec. 31, 2013, reported profit of $29.6 million, on sales of $496 million.
 
Last year, parent company H.J. Heinz Co was taken private when Warren Buffett’s Berkshire Hathaway company and Brazilian private equity firm 3G Capital bought it for US$28 billion.
 
By Suze Metherell
 
Source: scoop.co.nz

comments closed

Related News

May 26, 2024

Heineken Pilot looks to boost digital supply chain flexibility

Consumer Packaged Goods

Heineken is investing in its ability to “mix and match” demand planning models as it builds out a connected supply chain. The flexibility to select models for both shorter and longer horizons remains a current challenge in demand planning, Corneel Hindriks, Heineken manager of digital and technology, global planning, tells CGT.

May 26, 2024

KPS to snap up Tate & Lyle’s corn business in US$350 million deal

Consumer Packaged Goods

US-based investor KPS Capital Partners is set to acquire Tate & Lyle’s joint venture Primient, which formulates plant-based ingredients, for US$350 million. The move will complete KPS’ remaining 49.7% ownership of the company to propel Primient’s corn business by modernizing operations, supporting growth initiatives and sustainability practices.

May 26, 2024

Kimberly-Clark names Patricia Corsi Chief Growth Officer

Consumer Packaged Goods

Kimberly-Clark has selected Patricia Corsi to lead its marketing and adjacent growth strategies, succeeding Alison Lewis as chief growth officer. Corsi will be tasked with accelerating brand and commercial program success, driving long-term growth for the company.

How can we help you?

We're easy to reach