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Leading graduate retail employer in mass reorganisation
Tuesday, 19 June 2007
Cadbury Schweppes, one of the UK's top graduate retail employers, has announced plans to cut 15 per cent of its global workforce as part of a massive cost cutting exercise.
The UK-based firm, which regularly features near the top of the Times Top 100 Graduate Employers survey, has announced the plans as part of a multi-million pound investment and restructuring programme aimed at significantly increasing the group's profit margins by 2011.
The cuts will see around 7,500 job losses and up to ten plant closures, though details of how many of these are likely to be in the UK have not yet been released by the big-brand confectioner.
"The plans announced today represent the next step in transforming our confectionery business from being the biggest global confectionery company to being the biggest and the best," commented Cadbury chief executive Todd Stitzer.
"I am confident we have the strategy and the team to deliver continued strong growth and substantially increased returns," he added.
In a separate announcement, the company also said that it was happy with first-half trading figures for 2007, with strong performances in both its beverage and confectionery arms, the latter being led by increased sales of its new Trident chewing gum product.
Cadbury is a market-leader graduate retail employer in a wide range of sectors, including financial, engineering, sales and marketing and logistics.