- The cost-cutting measures at Kraft Heinz (KHC +0.4%) continue as the company integrates the Heinz business.
- Kraft sees cutting 13% of its workforce and working further to consolidate operations as part of the broad initiatives.
- During the earnings call, CEO Bernardo Hees was asked if the company is cutting too deep to pull off more M&A.
- "If you think about our culture and what it's all about, it's actually quite simple and very consistent over decades. It's all about ownership, meritocracy, high performance, brands, and dreaming big. It's all about those five things. And I truly believe those five things are applicable in many companies and many segments and so on. So through this culture we have, and so I don't think it will be more difficult or easier to do any other transaction," responded Hees.
- Kraft earnings call transcript
- Previously: Kraft Heinz reports Q1 results (May 3)
- Now read: Dividend Income Update: April 2017
Original article