By ASHLEY M. HEHER, AP Business Writer Tue Feb 20, 10:51 AM ET
The head of Kraft Foods Inc. said Tuesday that as many as 8,000 jobs could be cut as part of a plan to help the world's second-largest food and beverage maker revive its slumping sales.
Kraft says it may eliminate up to 9 percent of its work force and exit up to 20 production facilities, according to a document outlining the plan.
Since 2004, Kraft has eliminated 5,500 jobs.
Kraft says the restructuring program will include one-time pretax costs of $2.5 billion and it expects the cuts to save the company about $700 million.