Food Industry
Industry: Email Alert RSS FeedHeinz to cut jobs - Brief Article - Statistical Data Included
Eurofood, March 29, 2001
US food company Heinz is cutting 1 900 jobs taking a pre-tax charge of US300m. The jobs will be lost in its struggling tuna unit and its pet food division. Heinz will lose its tuna operations in Puerto Rico, and its pet food operations in the US are set for a change of home. As Heinz aims to restructure its business in order to render all divisions profitable, some analysts are urging the company to take more radical measures with regard to units that are holding the firm back.
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Only recently Heinz revised its earnings forecast for the second half of the year due to weak tuna prices (see Eurofood, 15 March 2001, p9).
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