TORONTO — Maple Leaf Foods said it will eliminate more than 400 positions as part of a streamlining of its organization. The announcement follows a comprehensive review by the company to look for ways to establish a highly competitive cost structure and support a renewed focus on growth.
“We have significant opportunity to use our scale and cost efficiency as a source of competitive advantage,” the company said. “As we complete our network transformation, we are now able to address the additional resources that managing years of change required and place greater rigor on building a cost culture. Our goal is to minimize the cost of running the business so we can focus our investments and future job creation on growing the business.”
The majority of the job cuts are expected to take place prior to the end of 2015, with the remainder set for 2016.
|Michael H. McCain, president and c.e.o. of Maple Leaf|
“Maple Leaf is in an enviable position,” said Michael H. McCain, president and chief executive officer. “The ramp up of our new world-class supply chain is nearing completion. We have a portfolio of market-leading products and brands, leadership in innovation and an accomplished team of people who deliver strategic value to our customers. We are committed to building a more sustainable company as a core growth platform, and we are taking important steps to reduce costs and redirect resources to those areas providing the greatest opportunity for business expansion.”Maple Leaf Foods makes products under such brands as Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals and Mina. The company employs approximately 12,000 people across Canada and exports to global markets, including the United States and Asia.