Cadbury to Wield Axe In Global Restructuring

27 October 2003

Some 10% of Cadbury Schweppes' global workforce are to be shown the door as part of a major restructuring scheme.

Under the newly unveiled Fuel for Growth programme, the UK-based chocolate and drinks colossus will axe around 5,500 employees and shutter 20% of its factories by 2007.

The scheme is expected to save the company around £400 million ($677.6m; €576.9m) annually within four years, though its implementation will cost an estimated £900m between 2004 and 2007.

Analysts believe many of the cuts will be made at the stateside Adams sweets and gum business, acquired in March.

Data sourced from: Financial Times; additional content by WARC staff