In an effort to drive long-term growth and increase margins, the chocolate maker is also simplifying its structure and unlocking growth potential in its core confectionery and emerging snacks businesses.
After initiating a voluntary separation for employees, Hershey will work to ease the burden of the layoffs by assisting all impacted employees during transitions to other jobs.
“We have taken a fresh look at how our resources and people are deployed globally and are better aligning our structure to the company’s long-term strategies and goals,” says John P. Bilbrey, chairman, president, and ceo, The Hershey Co. “This initiative is designed to unlock greater value across the organization by empowering decision-making closer to our customers and consumers, enabling a more enterprise-wide approach to innovation, swiftly advancing our knowledge agenda, and ensuring we effectively allocate resources to future growth areas.”
As part of this initiative, Hershey also announced changes to its Global Leadership Team to better deliver the company’s strategy, support its core business, and position Hershey to capitalize on adjacent and international growth opportunities.
Patricia Little, senior vp, cfo, will now also be responsible for corporate development, mergers and acquisitions. M&A will continue to be an important driver of Hershey’s future success.