Have you heard what Hershey is doing?
Answer:
Since some people wont use the links I will post it
HERSHEY, Pa. (AP) — Hershey (HSY) is cutting 1,500 jobs over three years as part of a plan to scale back production and move some manufacturing to Mexico, the candy maker announced Thursday.
When the plan is complete, Hershey's will make its chocolates and other candies at fewer plants and have a lower overall cost structure. About 80% of Hershey's manufacturing will take place in the U.S. and Canada.
Spokesman Kirk Saville said Hershey currently employs more than 13,000 people, which would mean the cuts will amount to something less than 11.5% of its workforce.
The maker of Reese's peanut butter cups and Mounds bars reported a 10% drop in fourth-quarter earnings last month on lackluster sales. Results lagged due to weak merchandising, the company said, as well as a recall of products made at a plant in Canada after salmonella bacteria was discovered.
The company said it will outsource production of low value-added items and also plans to build a plant in Monterrey, Mexico to meet growing demand in that country.
"The long-term benefits will include a significant, sustainable increase in investment behind Hershey's iconic brands and new product innovation, as well as targeted, profitable international expansion," said Chief Operating Officer David J. West.
Hershey reaffirmed its long-term target for sales growth of 3% to 4%.
Damn now I cant eat Hersheys chocolate
Thats the lasr straw ...jk
Any jobs being outsourced to any where is a problem. When will American companys learn to just lower their expected profit margin? It cant always be just about money. Its got to be about country or we will fall to our own greed.
yep...seems everyone is diong that lately
No wats up
Oh Noes!!!111!!!!!11!!!
Everybody Panic!!!!1!!!
Buy stock in the company. It will go up whether you agree with this strategy or not.
i have now
It's all about the bottom line. Hershey doesn't care about it's workers, just making money. That's what businesses do. It's just another example of horrible management. Nobody cares about keeping jobs in America.
Don't buy Hershey
Does this mean that the 11 million illegals will go back to Mexico? This is normal practice - many jobs have gone to third world countries where they can pay $1 an hour for labor.
Hmmm, sounds sour to me. Like the whole damned country.
Hey when they all move the manufacturing operations to Mexico, maybe we can sneak across their border for work. I bet we get shot though.
Yes, excellent way to contribute to America's economy (note sarcasm).
that makes me sad....I live for chocolate.....this really sucks.....so much for American made....and who is left in Mexico, half of their country is in America I thought.
When in Mexico three years ago I saw major corps there. How do you like your 'nazi' Daimer chrysler CEO today?
These types of business practices have been steadily going on since the 70's. Just add Hershey to the list,.
Figures.. another big company going for cheap wages and fewer import restrictions. My guess is any candy not made in the US or Canada will stay in central America.
Makes me furious.
Yeah, that is just a fact of life today in America. Our labor is just too expensive, so in order for companies to make more money, they send the jobs away. It is sad...
K.
So based on a decline in revenue they are going to cut the workforce by 10% in response to decreasing production demands. In addition they are opening a factory in Mexico to meet supply demands in that region. Seems like a sound business plan to me.
Many businesses produce their merchandise abroad.
It's sad, but that is what all the major corporations are doing now.
Yep.....they're all out to meet those profit margins. Selling us out right from under us. I won't be eating Hershey products anymore. Nestle either.....I hope all their cheap labor will be able to afford to afford to buy their products and keep their profit margins booming.
Well, heck. I guess that only leaves Sees....
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