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Economizing At Kraft Heinz Reaches Every Level

July 31, 2015: 12:00 AM EST
Cost-cutting has begun in earnest at Kraft Heinz, the company that resulted from Kraft’s merger with ketchup maker Heinz. New policies targeting electricity use, travel, and office supplies were implemented first. Jobs are now being trimmed. And at company headquarters in the Chicago area, refrigerators once packed with free Kraft treats like Jell-o and cheese sticks have been taken away. The economizing measures are similar to those CEO Bernardo Hees took at Heinz two years. At Kraft Heinz, Hees plans to cut annual costs by $1.5 billion within two years ago. A new senior management team took over on June 29 and several top Kraft executives, including CFO James Kehoe, got the boot.
Noah Buhayar, "No More Free Cheese Sticks for Kraft Employees in Cost Crackdown", Bloomberg Business, July 31, 2015, © Bloomberg L.P.
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