Kraft to cut 7,500

Dairy Foods, April, 2002

NORTHFIELD, Ill.--Kraft Foods Inc., said it is cutting about 7,500 jobs as it folds cookie and cracker maker Nabisco into its operations. The job cuts, which had reached nearly 2,700 through early March, call for the payout of $373 million in cash for severance and related costs. So far, Kraft has spent about $74 million on those costs, the company said in a filing with the Securities and Exchange Commission last month.

Through December, Kraft employed 114,000 workers.