US/UK: Zurich to house Kraft's Europe HQ

By | 8 January 2007

US-based food and beverage giant Kraft is to move its European headquarters in London and Vienna to one location in the Swiss city of Zurich.

Kraft announced its plans to centralise its European administration, marketing and production operations last year. The company has signed a lease on an office building in Zurich and expects the move to be completed in the next 18 months.

Affected employees will be invited to relocate to Zurich but the company has been unable to outline how the move will hit jobs.

"At the moment it's too early to tell how many jobs will be lost," a Kraft spokesman said. "We don't yet have any numbers."

Kraft's food business dwarfs its drinks stable but the company boasts a portfolio of powdered soft drinks that it sells in the emerging markets of Eastern Europe, Asia and Latin America.

Kraft also sells a range of soft drinks in the US and Canada.

Sectors: Soft drinks, Water

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US/UK: Zurich to house Kraft's Europe HQ

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