By
Associated Press
.
Published: Mon, October 06, 2008 - 2:07 am
Last Updated: Mon, October 06, 2008 - 2:10 am
NORTHFIELD, Ill. (AP) - A spokesman says Kraft Foods is slatedto announce layoffs in its North American operations, a
cost-cutting move that could result in the loss of several hundred
jobs.
But Kraft spokesman Mike Mitchell says the cuts to be announced
Monday are expected to cover less than one percent of
Northfield-based Kraft's North American work force, and will be
spread out geographically.
According to a report filed with federal securities regulators
Kraft had 41,000 U.S. employees at the end of last year, and
reportedly has 7,000 employees in Canada.
Kraft has contended with rising foodstuff and energy costs over
the past year, but it posted one of its best quarters in some time
during the second quarter, beating Wall Street estimates and
increasing its profit forecast for the rest of 2008.
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