Kraft Foods to cut 1600 jobs

Kraft Foods to cut 1600 jobs

Kraft Foods plans to cut 1,600 jobs in North America ahead of plans to split into two companies.

Kraft, the world’s second-largest food company, is splitting up to help the snacks business push products into emerging markets.
Full-year profit excluding some items probably rose to at least $2.28 a share, Kraft said in a separate statement. The average estimate of 19 analysts surveyed by Bloomberg was $2.29.

Read more at Bloomberg.

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