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The Campbell’s Company, based in Camden, New Jersey, said it reduced its salaried workforce by about 13% as it works to improve its bottom line amid declining sales. The workforce reduction was achieved through a voluntary early-retirement program and layoffs.
According to its website, the company employs more than 13,000 people across North America. It is also one of the biggest employers in the city of Camden with 1,527 total employees at its headquarters, according to the recent Semi-Annual Employee Residency Report it filed with the city.
Company spokeswoman Dana Connors said in an email that the job cuts were across the company, but declined to discuss specific locations impacted.
During an earnings call Thursday, company officials announced the job reductions, in addition to other plans aimed at reducing $500 million in costs by 2030. This includes the closing of snack plants in Hyannis, Massachusetts and Jeffersonville, Indiana.
“Together, these actions are designed to improve speed and accountability while supporting our margins and cash flow,” said Todd Cunfer, Campbell’s chief financial officer.