Friday, March 2, 2012


Byline: CLAUDIA COATES Associated Press

PITTSBURGH -- With H.J. Heinz Co. poised to announce a restructuring plan said to include 2,580 layoffs, analysts are speculating which businesses the baby food, ketchup and tuna company will unload.

The restructuring, details of which will be disclosed Friday, will include eliminating 6 percent of Heinz's work force of 43,000, The Wall Street Journal reported Monday.

The report said factories in North America and Europe will be closed, but it did not say where or when.

The food concern also plans to sell businesses accounting for as much as $600 million of its $9.1 billion in revenue in the coming year, the newspaper quoted sources as saying.

Company spokeswoman Gail Stull declined to say which businesses will be targeted in the restructuring plan, which will be finalized by the board Wednesday.

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