March 1, 2017

 by The Associated Press

HERSHEY, Pa.—Hershey Co. says it expects to cut its global workforce by about 15 per cent, with the layoffs coming mostly from hourly employees outside the United States. During a meeting with analysts in New York on Wednesday, Hershey CEO Michele Buck noted that the chocolate and candy category is nevertheless well positioned because it is “highly impulsive” with “expandable consumption.” And she noted that the company plans to benefit from the snacking trend in the U.S. that has people eating more frequently throughout the day. In a statement on Tuesday, the marketer of Hershey chocolate bars and other candies said the layoffs are part of a program designed to improve the operating profit margin through a streamlined operating model and reduced administrative expenses. Hershey Co. operates eight factories outside the U.S. As of December, Hershey employed approximately 16,300 full time and 1,680 part-time employees worldwide. REUTERS: Hershey Co , maker of Hershey's Kisses and Reese's Peanut Butter Cups, said will make certain changes to its operations, resulting in a 15 percent reduction of its global workforce.
The Hershey Company announces it will cut about 15 percent of its global workforce (~2,700 jobs) to return its international businesses to profitability as quickly as possible. The layoffs will have a greater impact on the international workforce.