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Food & Beverage

Heinz to Cut Up to 1,000 Jobs

May 31, 2011
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Bloomberg reports that H.J. Heinz Co. raised its dividend and profit forecast as it plans to slash as many as 1,000 jobs worldwide. The cuts amount to about 3 percent of its workforce, according to data compiled by Bloomberg. Five factories will close as part of the plan. Heinz, whose products include Ore-Ida french fries and Lea & Perrins sauces, also raised its long-term outlook for per-share earnings growth to as much as 10 percent in constant currency, from a previous target of up to 9 percent.

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