Kraft Heinz slashing 2,500 jobs in U.S., Canada after merger
NEW YORK — Kraft Heinz says it is cutting about 2,500 jobs as part of its plan to slash costs after the food companies combined.
Spokesman Michael Mullen says affected workers are in the U.S. and Canada and were to be notified in person.
The job cuts are not surprising, given the reputation of the company’s management on Wall Street.
The combination of Heinz and Kraft this year was engineered by Warren Buffett’s Berkshire Hathaway and Brazilian investment firm 3G Capital, which has become known for its tight cost controls.
Together, the two U.S. food giants own brands including Jell-O, Heinz baked beans and Velveeta that are facing sales challenges amid changing tastes.
Affected employees, who worked in jobs such as sales, marketing and finance, will be given severance benefits of at least six months, Mullen said.