Peers could feel the squeeze as Heinz cuts the fat

|By:, SA News Editor

Heinz (HNZ) has cut hundreds of jobs and axed 11 senior executives since being bought out by Berkshire Hathaway and 3G Capital.

Part of the pressure on the company post-takeover is scrapping together the cash to pay out Berkshire's 9% dividend on preferred shares.

Analysts think the developments at Heinz are of interest to Campbell Soup (CPB) and Mondelez International (MDLZ) where the same tight cost discipline might become a priority.