Hershey is cutting about 15% of its global workforce, mostly outside of the US.
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Hershey is cutting 15% of its workforce (HSY)
The chocolate maker said in a statement Tuesday that the move is part of a multiyear program to improve profitability.
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The chocolate maker said in a statement Tuesday that the move is part of a multiyear program to improve profitability.
Hershey said it expects the program to incur pre-tax charges of $375 million to $425 million, and provide between $80 million and $100 million in benefits from the layoffs.
"North America
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Hershey's shares fell by as much as 7% in after-hours trading following the announcement. Hershey plans to explain more to investors at a conference on March 1.
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