Procter & Gamble, the world's largest household products maker, said it could sell about half of its brands in the next two years and cut jobs to revive sales growth and save costs, sending its shares up as much as 4.3 percent.
Fortune — In a widely expected move, Kraft Heinz is cutting 2,500 jobs, the company announced Wednesday. That amounts to 5% of the company’s 46,000 employees, with affected workers located in the U.S. and Canada....More
The Wall Street Journal — ConAgra Foods Inc., under pressure from an activist investor, said it plans to jettison its struggling private-label business less than three years after spending $5 billion to buy it....More
Bloomberg Business — H.J. Heinz’s leadership is wasting no time shaking up Kraft Foods Group Inc. The companies announced a raft of management changes Monday ahead of their planned merger, which is scheduled to go to a shareholder vote this week....More