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 .
Category: Hershey, PA
Hershey beats 4Q profit forecasts
On a per-share basis, the Hershey, Pennsylvania-based company said it had profit of 55 cents. Earnings, adjusted for non-recurring costs, were $1.17 per share.