Hershey to cut 1,500 jobs
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Hershey co.  on Thursday said it  would cut about 1,500 jobs and reduce the number of production  lines it operates by more than a third as it tries to  streamline manufacturing to improve profits.
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HARRISBURG, Pa.  -- Hershey, the nation's largest candymaker, on Thursday reported its profit tumbled in the second quarter as it spent heavily to begin transforming its production lines.
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Hershey Co.  on Thursday again cut its 2007 profit forecast as it spends more to try to jump-start flagging sales, while charges for a supply chain overhaul and higher dairy costs led to a drop in second-quarter profit.
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Motorola Inc. plans to eliminate 1,000 jobs in the spinoff of its semiconductor unit, the company said Tuesday in a filing with government regulators.
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The Kellogg Company said that it would cut about 220 jobs at its factory in Manchester, England, to counter rising expenses for fuel and commodities. Eliminating the hourly and salaried positions will cost $60 million, the company said in a filing with the Securities and Exchange Commission. The jobs will be eliminated through severance and voluntary retirement, Kellogg said. The chief financial officer, Jeffrey M. Boromisa, said cost cuts including the reductions in Manchester would lower 2006 earnings by about $90 million, or 15 cents a share. Kellogg, based in Battle Creek, Mich., employs more than 1,000 people in Manchester where it makes corn flakes and other of its cereals, said Sam Fulton, a spokesman for Kellogg in Britain.
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AUSTIN, Texas - Freescale Semiconductor Inc. plans to cut at least 1,000 jobs from its worldwide operations, the company said as part of its second earnings report since it went public in July after being spun off from Motorola Inc.
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Motorola (Quote, Chart) said it would cut 1,000 jobs, a move prompted by the spinout of its Freescale Semiconductor (Quote, Chart) subsidiary.
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Whirlpool Corp  said on Thursday  it planned to close two refrigerator plants and cut about 1,250  jobs in a restructuring expected to cost $15 million to $20  million, while adding 875 jobs at two other plants.
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Cadbury Schweppes said on Tuesday that it planned to slash 15 percent of its workforce at its confectionery arm following the likely sale of its US soft drinks business.
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Morgan Stanley  is cutting about 1,000 jobs in the coming week, part of efforts to trim costs ahead of what it expects will be a tougher business environment, a person briefed on the moves said on Thursday.
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The Hershey Company lowered its profit forecast for 2006 Wednesday because of a recall of Canadian candy last month and lower-than-expected sales.
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Retailer Macy's Inc plans to cut 271 jobs in the Chicago, Detroit and Minneapolis areas, closing most of its in-store wine shops and several food operations, the Chicago Tribune reported Saturday.
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Retailer Macy's Inc  plans to cut  271 jobs in the Chicago, Detroit and Minneapolis areas, closing  most of its in-store wine shops and several food operations,  the Chicago Tribune reported Saturday.
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Business & money: Around 1,000 jobs slashed across Co-operative Group's financial arm, with Manchester-based staff expected to be badly hit.
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Telecommunications equipment maker  Motorola Inc. MOT.N said on Tuesday that it would cut 1,000  jobs and take related charges of about $50 million to focus on  its wireless business.
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About 1,000 employees at Fleet branches across the Northeast got the ax yesterday - and thousands more job cuts are on the way as new owner Bank of America Corp. aims to hit its goal of reducing total employment by 12,500.
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General Motors of Canada  will  cut about 1,000 jobs at a truck plant in Oshawa, Ontario, in  January amid slumping pick-up sales, the Globe and Mail  newspaper said in its online edition on Thursday.