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Campbell’s Soup makes some changes

Campbell’s Soup is doing some restructuring. The New Jersey-based company is going to cut 770 jobs worldwide including 190 at its U.S. retail merchandising unit which is being outsourced to Acosta Sales and Marketing.

In addition, Campbell’s will close its manufacturing facility at Marshall, Michigan and will move ready-to-serve soups from the Paris, Texas plant to facilities already making those soups in Napoleon, Ohio and Maxton, North Carolina. The Paris plant will continue to produce other soups, sauces and beverages.

The company also says it is going to close its office in Moscow and pull out of Russia. Chief Operating Officer Denise Morrison says since launching the Russian effort in September, 2007, business has fallen short of expectations and they see stronger prospects in other emerging markets…most notably China.

The total plan is expected to generate annual pre-tax savings of $60 million beginning in 2012 and increase to $70 million by FY 2014.

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