Sara Lee announces plan to shed 700 jobs

- Last updated on GMT

Related tags: North america, Sara lee

Sara Lee has announced that it will slash 700 jobs from its global workforce and outsource parts of its North American and European finance and information services groups.

The company said that it plans to cut the jobs over the next three years in an effort to save $200-$250 million annually. It said that it will begin making redundancies in North America in the current fiscal year.

Sara Lee Corporation’s chairman and CEO Brenda Barnes said: “‘Project Accelerate’ is designed to improve margins and drive shareholder value as we continue to build the long-term strength of the company.”

Related topics: Grupo Bimbo, Markets

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