Campbell's is implementing major workforce reductions after its net income plummeted by 33 per cent. According to Food Industry Executive, the company is cutting 13 per cent of its staff and closing two plants dedicated to snack production.
In other industry news, several major players including Mars, General Mills, and McKee Foods have launched a federal lawsuit. The companies allege that their sugar suppliers engaged in price fixing over a period of seven years.
Additionally, reports indicate a decline in regulatory oversight, with FDA foreign inspections currently running 35 per cent lower than the levels seen in 2019.
