Union warns of takeover threat to Cadbury jobs
Thousands of jobs will be put at risk if US food giant Kraft takes over Cadbury because of a "colossal" £22 billion of debt which would swamp the chocolate-maker, union leaders warned today.
Unite estimates that 7,000 jobs at Cadbury would be threatened, adding that the interests of the company, its workforce and supply chain would be hit if Kraft pushed through its hostile bid.
Today, the union sent a briefing to all Cadbury investors asking them to put the wider public interest implications of losing Cadbury's independence before the "narrow issue" of share price.
In its briefing, Unite warned that Kraft ownership could see control of Cadbury move from the UK to Illinois, USA, and in the process put at risk 7,000 direct jobs and at least 20,000 more in the wider supply chain.
The union also maintained that Kraft's huge product portfolio, ranging from processed cheese to groceries, was not a good fit with Cadbury, which could have its brand damaged.
Jennie Formby, Unite's national officer for food and drink, urged Cadbury shareholders to resist Kraft's offers, saying: "Cadbury has clearly demonstrated its strength as a stand-alone company.
"Contrast that with Kraft's excessive debt, under-performance and the unacceptable risks this brings for Cadbury and it is hard to see any wisdom in this bid whatsoever."
- 1 Marijuana use by teenagers does not result in a lower IQ or worse exam results, study finds
- 2 Watch what happened when food critics were unknowingly served McDonald's
- 3 Jimmy Carr's controversial Oscar Pistorius joke goes too far at the Q Awards
- 4 Australian café owner sparks debate after saying 'No' to having unruly children on premises
- 5 NHS staff banned from drinking tea or coffee on the job because it looks like they're not working hard enough
Renee Zellweger on plastic surgery: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
Kim Jong-un 'purge': Six North Korea officials missing for weeks 'may have been executed'
Diwali: What is the festival of lights – and how is it celebrated around the world?
Nathan Cirillo: Final pictures emerge of soldier moments before he was shot dead by Ottowa gunman
Jimmy Carr's controversial Oscar Pistorius joke goes too far at the Q Awards
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
iJobs Money & Business
£350 - £360 per day: Ashdown Group: SQL Developer with T-SQL, Watford, Hertfor...
120-150k: Accountancy Action: We are looking for an experienced CFO from a min...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...