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Kraft Heinz Cutting 2500 Jobs

Kraft Heinz Co. said it will eliminate 2500 jobs in the U.S. and Canada in an effort to cut costs. Roughly 700 cuts were said to be coming at the company’s Northfield, IL headquarters.

A spokesman for the company said none of the job cuts involved factory workers.

Backed by Warren Buffett's Berkshire Hathaway Inc. and Brazilian private equity firm 3G Capital, Heinz, combined with Kraft in March 2015 in a $46 billion deal that created the third-largest food company in North American.

Kraft Heinz expects to save about $1.5 billion in annual costs by the end of 2017.

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