Cadbury Schweppes is understood to be planning a four-year cost cutting programme that is expected to include job cuts and the closure of its Mayfair office. It is thought that the strategy will be announced by chief executive Todd Stitzer at a presentation later this month.
The programme, which is expected to see cuts of £200m to £300m made, is its biggest review since it announced the Fuel for Growth programme in 2003. That saw the closure of more than 30 factories worldwide.
The plans come after a tough year for the confectionery and drinks giant including last year’s salmonella scare. It is thought to have cost the company £30m and it is still facing prosecution for its handling of the situation. Its £10m launch of chewing gum brand Trident was also hit after the Advertising Standards Authority pulled its launch advertising for being racist (MW March 29).