Kraft Heinz cuts 2,500 jobs, more than 5 percent of its staff
NEW YORK — When mac & cheese combines with ketchup, what do you get?
Apparently, pink slips. Kraft Heinz is laying off 2,500 workers — more than 5% of its total staff.
Kraft and Heinz completed their merger in early July. Job cuts were widely expected when the deal was announced earlier in the year.
Michael Mullen, a spokesman for Kraft Heinz, said in an email that the layoffs were being done to “ensure we are operating as efficiently and effectively as possible.”
He added that it was a “very difficult, but necessary, decision.”
The layoffs are taking place in the United States and Canada — 700 of the job cuts are happening at the Kraft headquarters in Northfield, Illinois. Mullen said the laid off workers will receive a minimum of six months severance.
Kraft Heinz is controlled by Warren Buffett’s Berkshire Hathaway and Brazilian private equity 3G Capital, which first teamed up in 2013 to buy Heinz. Berkshire and 3G collectively hold a 51% stake in Kraft Heinz.