Kraft Foods, based outside Chicago, is one of those companies where a lot of Midwestern college grads got their first jobs. It has famous brands like Maxwell House, Cadbury, and of course, Kraft itself. But it’s on the verge of reorganizing. 
Last August, Kraft Foods said it was splitting itself into two companies — one focusing on snacks, the other on grocery items. Now, Kraft, which generates almost $50 billion in annual revenue, says it is cutting 1,600 jobs, mostly in sales, as a result. It is reducing its management centers from four to two. About 20 percent of those jobs are open position that won’t be filled.
The Chicago area will benefit, in a fashion. Kraft’s grocery business will be headquartered in the area, and the beverages business unit in Tarrytown, N.Y., and the Planters brand in East Hanover, N.J., will relocate to there by December.
The global snacks business also will be headquartered in the Chicago area, although Kraft hasn’t decided on a location. But, Kraft said it will close a management center in Glenview, Ill. Continue reading