Campbell's reduces workforce and closes plants
Campbell's has cut 13% of its salaried workforce and closed two snack plants to address operational challenges and return to profitability amid declines in sales and consumer resistance to higher prices. The company expects fiscal 2027 net sales to decrease by 2% to 4%, with adjusted earnings per share expected below analyst estimates. Despite efforts to raise prices to offset rising costs, Campbell faces ongoing market pressures and aims to improve margins and cash flow through cost-saving initiatives.
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