Aug 12 (Reuters) - Kraft Heinz Co KHC.O said it will cut
2,500 jobs in the United States and Canada as part of its cost
cutting initiatives following the creation of the company
through the $46-billion merger of ketchup maker H.J. Heinz with
Kraft Foods.
Of the total job cuts, 700 will be in Kraft Heinz's
Northfield, Illnois headquarters, spokesman Michael Mullen in an
emailed statement to Reuters.
Heinz, backed by Warren Buffett's Berkshire Hathaway (NYSE:BRKa) Inc
BRKa.N and Brazilian private equity firm 3G Capital, combined
with Kraft earlier this year to create the third-largest North
American food company.
The combined company expects to save about $1.5 billion in
annual costs by the end of 2017.