Kraft Heinz Co (NASDAQ:KHC) said it will cut 2,500 jobs in the United States and Canada as part of its cost cutting initiatives following the creation of the company through the $46-billion merger of ketchup maker H.J. Heinz with Kraft Foods.
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The combined company expects to save about $1.5 billion in annual costs by the end of 2017.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D'Souza)