Experts say this is the very real nightmare scenario for Kraft Heinz
Summary List Placement One of America''s biggest food companies has been riding high thanks to pandemic-lifted sales at grocery stores. But analysts say trouble may be on the horizon for Kraft Heinz. In fact, the worst-case scenario might already be here. Private equity firm 3G Capital and Warren Buffett''s Berkshire Hathaway have overseen billions in cost cutting measures since Kraft and Heinz merged in 2015. Former employees told Insider that those reductions have made working there difficult, with tight budgets forcing some employees to cover their own travel expenses. The pandemic-induced habit of eating more at home has given food companies like Kraft Heinz a sales boost over the last year. But sales of most of the company''s products, including Oscar Mayer hot dogs and Heinz ketchup, were stagnant or even declining before 2020. Kraft Heinz''s 2019 net sales decreased 2% thanks to lower demand for its cheese, meats, and coffee, the company said in an annual filing. To date, its stock price has tumbled 46% since the company''s creation in 2015.
Experts say this is the very real nightmare scenario for Kraft Heinz
Summary List Placement One of America''s biggest food companies has been riding high thanks to pandemic-lifted sales at grocery stores. But analysts say trouble may be on the horizon for Kraft Heinz. In fact, the worst-case scenario might already be here. Private equity firm 3G Capital and Warren Buffett''s Berkshire Hathaway have overseen billions in cost cutting measures since Kraft and Heinz merged in 2015. Former employees told Insider that those reductions have made working there difficult, with tight budgets forcing some employees to cover their own travel expenses. The pandemic-induced habit of eating more at home has given food companies like Kraft Heinz a sales boost over the last year. But sales of most of the company''s products, including Oscar Mayer hot dogs and Heinz ketchup, were stagnant or even declining before 2020. Kraft Heinz''s 2019 net sales decreased 2% thanks to lower demand for its cheese, meats, and coffee, the company said in an annual filing. To date, its stock price has tumbled 46% since the company''s creation in 2015.