HERSHEY, Pa. – Hershey is expected to cut about 300 jobs by the end of the year as it looks to simplify its operations.
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The company has approximately 13,000 employees globally.
Manufacturing operations are not included in the plans.
Hershey Co. also announced Friday that it is lowering its full-year revenue outlook. The Hershey, Pennsylvania-based company said that it now foresees revenue rising around 2.5 percent to 3.5 percent. It previously predicted a 4.5 percent to 5.5 percent increase.
Excluding foreign currency fluctuations, Hershey now anticipates full-year revenue climbing about 4 percent to 5 percent. Its prior guidance was for a 6 percent to 7 percent rise.
Hershey expects 2015 adjusted earnings in a range of $4.10 to $4.18 per share. Analysts polled by FactSet had predicted $4.31 per share.