Cadbury to cut jobs as drinks sale nears
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Cadbury Schweppes Plc , the world's largest confectionery group, plans to cut 7,500 jobs and close around ten plants as it seeks to catch up with the profitability of U.S. rivals after the sale of its drinks arm.
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Cadbury Schweppes Plc, the maker of Dr Pepper and 7Up, said results will be at the ``lower&#39;&#39; end of the range it has targeted in the current fiscal year because of lack of demand in the US and European drinks markets.
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Some king-sized chocolate bars will be cut down to size in Britain next year as leading food manufacturers respond to growing pressure about portion distortion and rising levels of obesity.
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Cadbury Schweppes is preparing to announce on Tuesday that is will sell its American beverage business, according to people close to the company.
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Cadbury Schweppes says its plans to hive off its US drinks business will go ahead - even if it cannot find a buyer.
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British pharmaceuticals giant GlaxoSmithKline said Wednesday it would cut jobs and costs, after third-quarter profits slid on poor sales of diabetes pill Avandia and fierce competition from generic drugs.
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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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Business & money: Supermarket chain to cut several hundred jobs, three months after saying its future was secure.
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Cadbury Schweppes, the world&#39;s biggest confectioner, today forecast disappointing annual profits after a wet summer dampened drink sales in Europe.
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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 world's biggest confectionary group, Cadbury Schweppes, says profits will be lower than expected as wet weather hits cold drinks.
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Coca-Cola Enterprises Inc.  said  on Tuesday it took a $2.9 billion impairment charge in 2006,  and the largest bottler of Coca-Cola  drinks also said it  plans to cut about 3,500 jobs, or 5 percent of its global work  force.
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Confectionary manufacturers today announced the phasing out of some king size chocolate bars in a move intended to tackle rising levels of obesity.
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Cosmetics giant Avon is to cut 2,400 jobs as part of its multi-year restructuring programme.
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The world&#39;s biggest confectioner, Cadbury Schweppes, says its annual results will come in toward the lower end of its target ranges, with wet weather hampering soft drinks sales in Europe.
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Cadbury Schweppes, the confectionery to soft drinks group, followed rivals such as Unilever and Coca-Cola yesterday in admitting the poor summer had taken its toll on its sales, knocking its shares.
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Cadbury Schweppes is to set out plans for a big overhaul of its business amid speculation of substantial job cuts.