Nabisco Acquisition Prompts Kraft To Cut Staff

03/18/2002 |

Kraft Foods has announced plans to eliminate 7,500 jobs as it integrates cookie and cracker maker Nabisco into its operations. The company is expected to spend $373 million in cash for severance and other related costs. The Illinois-based food manufacturer reportedly expects to save about $600 million yearly by 2004 from the Nabisco merger.

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