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HJ Heinz Co, recently acquired by Warren Buffett's Berkshire Hathaway and the Brazilian investment firm 3G Capital for $23.3 billion, said yesterday that it is eliminating 600 jobs in the US and Canada, including 350 in its hometown of Pittsburgh - a move that cuts roughly a third of its operation there.

Heinz has pledged that it plans to remain headquartered in Pittsburgh. The company says it is offering severance packages and outplacement services to the people losing their jobs.

Spokesman Michael Mullen tells the Associated Press that the cuts are "intended to enable faster decision-making, increased accountability and accelerated growth."
KC's View:
I've had some email correspondence about this development, and here is the paragraph from the AP story that seems to stick in the craw of some of the folks who count themselves among the unlucky 600:

After the company was sold, "Bernardo Hees was named Heinz's new CEO. He took over from William Johnson, who received a golden parachute of $56 million, in addition to $156.7 million in vested stock and deferred compensation he accrued over his career."

There is a sense among some of the troops that the acquisition resulted in the CEO walking away with $200 million, and that at least 600 people who helped form the backbone of the company walk away with a severance package and some outplacement services.