Business Services Industry
Illinois-Based Kraft Foods Details Early Retirement Plan.
Knight Ridder/Tribune Business News, January, 1999 by Newman, Judy
Knight Ridder/Tribune Business News
Jan. 28 -- Kraft Foods, owner of sliced meat manufacturer Oscar Mayer Foods Corp. in Madison, is slicing jobs.
Kraft is offering voluntary retirement packages to non-union employees at its 75 plants and offices around the country.
The nation's largest packaged foods company hopes to eliminate 600 of its 38,500 positions, or about 1.5 percent.
The move, credited to productivity improvements, is expected to save Kraft $50 million a year.
At Oscar Mayer in Madison, 116 of the 3,250 employees will be eligible for the retirement options, said corporate communications manager Claire Regan.
She expects about 70 of them will take advantage of the offer, "and that's just a guess."...
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