Kraft Heinz (KHC) is slimming down following its merger, and the first to feel the effects of the belt tightening will be the employees. The packaged food giant will be laying off around 2,500 non factory workers in the U.S. and Canada, that's roughly 5 percent of its workforce. The newly combined company is aiming to slash at least $1.5 billion from its budget by the end of 2017. And jobs aren't the only thing getting the chop, free Kraft snacks in the office are off the menu and employees will also have to limit their use of paper products and printing. The maker of tomato ketchup, baked beans and Jell-o announced in a statement, 'This new structure eliminates duplication to enable faster decision-making, increased accountability and accelerated growth.' The $46 billion merger deal was orchestrated by Warren Buffett's Berkshire Hathaway (BRK) and Brazilian investment firm 3G Capital, collectively they hold a 51 percent stake in Kraft Heinz.
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