Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Heinz Raises Profit Target, Plans to Cut Jobs (800-1,000)

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 01:41 PM
Original message
Heinz Raises Profit Target, Plans to Cut Jobs (800-1,000)
Heinz raised its long-term earnings growth target on Thursday, due in part to a plan that includes closing five factories and cutting up to a thousand jobs.

The ketchup maker also reported lower-than-expected fiscal fourth-quarter profit and issued an upbeat forecast.

Heinz plans to spend $160 million, or 35 cents per share, on initiatives to improve its manufacturing efficiency. The plan includes closing two factories in Europe, two in the United States and one in the Pacific region, leaving it with 76 factories globally. The closures will mean the loss of 800 to 1,000 jobs, it said. It will also set up a European supply chain hub in the Netherlands.

Like most food companies, Heinz has been looking for ways to cut expenses as it faces higher costs for a host of raw materials from packaging to fuel.

More: http://www.cnbc.com/id/43178988

Printer Friendly | Permalink |  | Top
delunapark Donating Member (131 posts) Send PM | Profile | Ignore Fri Jun-10-11 01:48 PM
Response to Original message
1. I Don't
Buy their products. Hunts ketchup is better and Mount Olive pickles and peppers are my favs. :)
Printer Friendly | Permalink |  | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 01:55 PM
Response to Original message
2. Recommend
Printer Friendly | Permalink |  | Top
 
Donnachaidh Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 02:57 PM
Response to Original message
3. uhh, Senator Kerry -- speak to your wife Dude.
Seriously - WTF?
Printer Friendly | Permalink |  | Top
 
blm Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 03:54 PM
Response to Reply #3
6. The Heinz family hasn't owned the company for years. Teresa handles the Heinz Foundation Charities.
.
Printer Friendly | Permalink |  | Top
 
Donnachaidh Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 03:55 PM
Response to Reply #6
7. she has nothing to do with the board? n/t
Printer Friendly | Permalink |  | Top
 
blm Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 03:56 PM
Response to Reply #7
8. No. And, iirc, there was also a takeover of the board in 2008, I believe.
Edited on Fri Jun-10-11 03:57 PM by blm
.
Printer Friendly | Permalink |  | Top
 
madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 03:14 PM
Response to Original message
4. i buy my ketchup from two companies.. red gold from indiana and...
brooks in illinois.
Printer Friendly | Permalink |  | Top
 
amborin Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 03:47 PM
Response to Original message
5. k and r
Printer Friendly | Permalink |  | Top
 
Initech Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-10-11 04:07 PM
Response to Original message
9. Yup - raising the bucks by screwing the workers. What a great business plan.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Fri Aug 29th 2014, 09:28 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC