As Kraft Foods splits into two separate companies, 1,600 workers will lose their jobs.
The company is creating a global snacks business, containing such brands as Oreo cookies, Trident gum and Cadbury chocolates. A separate North American company will include Jell-O desserts, Oscar Mayer processed meats and Kraft macaroni and cheese.
"Our plan for a more nimble company, combined with the current economic and competitive pressures, led us to this point," Kraft Foods North America President Tony Vernon said in the statement in January.
CNNMoney's Annalyn Censky and Emily Jane Fox contributed to this reportNEXT
