Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: NedScheer Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 255  
Subject: Hershey/Mars Date: 2/15/2007 10:09 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Has Hershey ever considered merging/buying out Mars? It seems like it should have been considered at some point unless Mars is just to large. It sure would cut down on the competition- Ned

Hershey to cut 1,500 jobs
Thursday February 15, 9:11 am ET

CHICAGO (Reuters) - Hershey Co. (NYSE:HSY - News) on Thursday said it would cut about 11 percent of its workforce and reduce the number of production lines it operates by more than a third as it spends as much as $575 million to overhaul its manufacturing.

ADVERTISEMENT
click here
The largest U.S. chocolate maker also said it will build a new, cost-efficient manufacturing plant in Monterrey, Mexico.

The company said it will cut about 1,500 of its more than 13,000 jobs in the overhaul. The amount of production from North America and Canada will drop to about 80 percent from the current 90 percent once the manufacturing change is completed, the company said.

The move comes as the maker of Hershey's Kisses and Reese's peanut butter cups has lost market share in the United States to Mars Inc. Hershey has been trying to increase sales by focusing on its core brands, while developing new lines like premium dark chocolate.

Hershey also said it still expects sales to increase by 3 percent to 4 percent in 2007, with earnings from operations up 7 percent to 9 percent. The earnings forecast is below the company's long-term goal of 9 percent to 11 percent, but in line with the company's previous forecast.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement