Kraft to snip 1,600 jobs in split

Kraft Foods Inc said splitting into two companies would lead it to cut about 1,600 jobs in North America this year and that its 2011 profit should be slightly higher than it had previously forecast.

About 40 per cent of job cuts come from realigning its US sales division. About 20 per cent of jobs being cut in the US and Canada are currently open positions. The planned job cuts do not include any cuts at manufacturing facilities.

The 1,600 job cuts represent about 1.26 per cent of the company’s total workforce. Kraft has about 127,000 employees, including about 46,500 in North America.

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