Cadbury cuts headcount

The newly de-merged confectioner – it cut adrift from its American beverages drinks arm earlier this year – said it was changing its organisation and management structure at a cost of around 250 people leaving the business including a number of senior managers. Cadbury also announced three further restructuring measures. In Australia and New Zealand, it is simplifying its manufacturing activities resulting in the loss of around 330 jobs over the next two years. In Europe, it is establishing a science and technology centre of excellence in Switzerland, consolidating three separate facilities. And an agreement with a facilities management partner will likely result in the transfer of a significant number of other jobs outside the company. Meanwhile, Cadbury reported good third quarter performance with revenues up 6%. CEO Todd Stitzer said: “The good third quarter performance was in line with our expectations. Our new streamlined organisation, together with additional cost reduction initiatives, will increase the focus on implementing our strategic plans and underpin delivery of our margin targets. Despite weaker economic conditions, we expect strong profit growth for the year and reconfirm the revenue and margin guidance we gave in July.”