Enter multiple symbols separated by commas

Cadbury Plans Cost Cuts, Likely Sale of Soft Drinks

Cadbury Schweppes, the world's largest confectionery group, plans to cut 15% of its jobs and factories, while adding a sale is the likely outcome rather than a demerger for its American drinks unit.

The British group said on Tuesday its new confectionery strategy will mean cuts in its 50,000 workforce and 60 factories to drive through efficiencies as it emerges as a pure confectionery player similar to its U.S. sweet rivals.

The London-based company, maker of Dairy Milk chocolate, Trident gum and Trebor mints, was announcing its confectionery alone strategy as it decided on a likely sale of its Dr Pepper and Snapple drinks business, and a likely return of capital to shareholders.

The added it had made a strong start to the year in both confectionery and beverages for 2007.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • KLM landing

    A Dutch storm violently rocked a plane as it approached for a landing, narrowly avoiding a crash on the runway.

  • Treasure hunters have found a trove of 300-year-old gold coins off the coast of Florida worth more than $1 million, NBC affiliate WESH reported.

  • Donald Trump

    Trump himself gave one of the clearest examples yet of why his candidacy is doomed to fail, and why the debate stage could be his Waterloo.

U.S. Video