Hershey, With Scant Global Traction, to Cut 15% of Workforce

Hershey lags so far behind its international competitors, that it was no surprise when it announced Tuesday it would slash 15% of its workforce, mostly outside the U.S., to amp up profitability. Internationally, the Hershey, Pa.-based chocolate maker has been losing market share to such rivals as Mondelez , owner of Cadbury confectionery, and privately held Ferrero and Nestle .