Kraft cutting 1,600 jobs
Kraft Foods will cut 1,600 jobs in Canada and the U.S. over the next year, as part of a large restructuring of the company.
The makers of Jell-O, Oreos and, of course, Kraft Dinner made the announcement in a news release Tuesday.
The Illinois-based company has been planning since August to split its snack business from its grocery business.
The job cuts are one of several moves designed to ensure the two divisions "are well-positioned to become two independent public companies before the end of 2012," the company said.
It also plans to consolidate its U.S. management centres but said both of the new companies will stay at their current locations in the Toronto area.
About 40% of the positions being eliminated are due to a re-organization of Kraft's sales and distribution teams, the company said. Another 20% are currently open positions. The remaining cuts will be primarily from the corporate and business units. Manufacturing jobs will not be eliminated as part of this plan, but the company said it is continuing to review those operations.