Sara Lee announces job cuts

- Last updated on GMT

Related tags: Sara lee

In its latest effort to cut costs and consolidate operations,
Chicago-based food and consumer goods maker Sara Lee Corp. plans to
trim nearly 10 per cent...

In its latest effort to cut costs and consolidate operations, Chicago-based food and consumer goods maker Sara Lee Corp. plans to trim nearly 10 per cent of its headquarters staff, or some 30 corporate positions, a spokeswoman said on Wednesday. The company, which makes a diverse line of products ranging from its brand-name frozen baked goods to Ball Park hot dogs and Kiwi shoe polish, said the cuts would be effective on July 1. The company held meetings with the employees and departments affected by the cuts on Wednesday, a spokeswoman said. The cuts are the latest moves by Chief Executive Steve McMillin, who has been trimming operations and consolidating lines to focus on Sara Lee's core offerings of food, intimate apparel and underwear, and household products.Sara Lee warned late last month that fiscal 2002 profits would miss Wall Street estimates, as it spends more on marketing and consolidating several of its business lines. Source: Reuters

Related topics: Market Trends

Related news

Follow us

Products

View more

Webinars