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Last Updated: Thursday, 15 February 2007, 16:26 GMT
Hershey plans to cut 1,500 jobs
Chunks of chocolate
Hershey is the largest US chocolate maker
The US's largest chocolate maker, Hershey, is to cut 1,500 jobs in its supply chain over the next three years as part of a restructuring plan.

It involves outsourcing production of some of its simpler items, and building a new plant in Monterrey, Mexico.

The company, whose products include Hershey's Kisses and Mounds bars, will spend $575m (294m) on the revamp.

When it is completed, Hershey will manufacture about 80% of its production in the US and Canada.

Hershey has been losing US market share to Mars and reported a 10% drop in quarterly earnings last month.

The company plans to make some of the money saved available for investment in new products.

It is currently trying to expand into new lines such as premium dark chocolate.




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