Campbell's Cost-Cutting Measures Include Plant Closures, Layoffs
Dow Jones
Sep 03
0847 ET - Campbell's says it is targeting $500 million in cost savings by its fiscal 2030, aiming to turn around its business which has struggled amid surging costs and soft demand. The snack-and-soup maker says several cost-cutting measures are already underway, including plant closures and recently completed workforce reductions. Campbell's, which also slashed its quarterly dividend, says the savings will accelerate its efforts to protect margins and support higher investment levels. Campbell's slides 6.4% premarket after swings to a F4Q loss on tumbling sales.
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