Kraft Foods in The News
Kraft began a major restructuring process in January 2004, following a year of declining sales (blamed largely on the rising health consciousness of Americans) and the sacking of co-CEO Betsy Holden. The company announced closures of 19 production facilities worldwide and the reduction of 5,500 jobs, as well as the sale of 10% of its branded products.
On January 19, 2010, Kraft sealed the deal to buy 100% of the share capital of Cadbury for over $19 billion dollars.
On March 17, 2010, Kraft Foods said it was "truly sorry" over its closure of a Cadbury factory in Somerdale. Senior Kraft executive Marc Firestone made the public apology to MPs at a parliamentary select committee hearing.
In March 2011, in the US, Kraft Foods introduced MiO, a liquid flavoring product with zero calories and sugar-free geared to 18 to 39-year-old consumers. MiO has no artificial flavors but it does have artificial colors, artificial sweeteners and artificial preservatives, unlike some competing flavoring products, according to USA Today.
In August 2011, Kraft Foods announced plans to split into two publicly traded companies—a snack food company and a grocery company.
On September 10, 2010 a disgruntled employee angered over a recent suspension, Yvonne Hiller, opened fire inside the Philadelphia Factory where she had worked for 15 years. Armed with a .357, Yvonne shot 3 co-workers, killing 2 of them. Philadelphia Police responded within minutes of the 911 call. SWAT took Yvonne into custody at 8:30pm.
Read more about this topic: Kraft Foods
Famous quotes containing the words foods and/or news:
“There are many of us who cannot but feel dismal about the future of various cultures. Often it is hard not to agree that we are becoming culinary nitwits, dependent upon fast foods and mass kitchens and megavitamins for our basically rotten nourishment.”
—M.F.K. Fisher (1908–1992)
“The media have just buried the last yuppie, a pathetic creature who had not heard the news that the great pendulum of public conciousness has just swung from Greed to Compassion and from Tex-Mex to meatballs.”
—Barbara Ehrenreich (b. 1941)