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Kraft Heinz cuts 700 jobs, 2,500 will leave in total

Staff writer |
Kraft Heinz affirmed its commitment to cut costs by $1.5 billion by the end of 2017 and it expects to reduce its existing workforce, according to documents filed with the Securities and Exchange Commission (SEC).

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The company will lay off 700 workers at Kraft's corporate headquarters in north suburban Northfield, part of a cost-cutting plan that will cut 2,500 jobs in the U.S. and Canada.

H.J. Heinz completed its purchase of Kraft Foods Group in July, forming Kraft Heinz, now the third-largest food and beverage company in the U.S. and the fifth-largest worldwide.

The company reported sales declines at both its Kraft and Heinz units for Q2, before the merger took effect.

Kraft Heinz CEO Bernardo Hees said, "The company is focused on the difficult and challenging process of integrating our two businesses. We have a lot of hard work ahead of us as we continue to design our new organization, always putting our consumers first."

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