The Campbell Soup Company based in Camden, N.J. will lay off of 10-percent of its workforce at the company’s Camden headquarters, according to a press release on the company's website.
The decision to lay off 130 employees in Camden -- 770 worldwide -- comes as a part of the soup company's initiative to reduce overhead costs. Other cost-cutting moves will include shutting down their Moscow plant, outsourcing and increased automation at their plants, the Courier Post reports.
The paper reports that the moves will save Campbell's about $75 million (before taxes) in the two years it will take to complete the layoffs.
Earlier this month, it was announced that the company’s first female CEO, Denise Morrison, will take over on August 1.
Morrison said the decision to lay off employees was not easy.
”While a workforce reduction is always a very difficult decision, these actions will streamline our organization and improve the level of coverage and the effectiveness of our sales merchandising activities,” she said in the release.