H.J. Heinz Co., the world’s biggest ketchup maker, raised its dividend and profit forecast as it plans to slash as many as 1,000 jobs worldwide.
The cuts amount to about 3 percent of its workforce, according to data compiled by Bloomberg. Five factories will close as part of the plan, the Pittsburgh-based company said today in a statement.
Chief Executive Officer William Johnson said today that the cutbacks will help improve efficiency and productivity. Heinz, whose products include Ore-Ida french fries and Lea & Perrins sauces, also raised its long-term outlook for per-share earnings growth to as much as 10 percent in constant currency, from a previous target of up to 9 percent.