After Merger, Kraft Heinz Pledges Major Cost-Cutting Efforts in New Headquarters
Following a merger of Heinz and Kraft Foods — making the newly formed company the fifth-biggest food conglomerate in the world — the newly named Kraft Heinz has pledged to undergo considerable cost-cutting efforts and reduce its overall footprint in its new offices in downtown Chicago.
The new headquarters, which total 170,000 square feet over five floors of the Aon Center, will be a drastic reduction from the original 700,000-square-foot property, which housed an estimated 2,300 Kraft employees.
Although the company has not made any direct statements about job cuts, it’s hard to imagine that full staff from both companies will be retained in the new space.
What’s more, Kraft Heinz is focused on cutting $1.5 billion from spending within the next two years, which it has pledged to do by making important cuts and improving operational procedures.
In a statement, a spokesman for Kraft Heinz stated that the move would allow the company “to firmly establish our dynamic new culture based on meritocracy, speed, efficiency, and collaboration.”