- Taking inspiration from 3G Capital's slashing of costs at Heinz, Mondelez (MDLZ) has hired Accenture (ACN) to do similar work at the owner of Cadbury's chocolate.
- Mondelez is looking to make $3B in gross productivity savings over three years.
- "We've watched the work that 3G has done with AB InBev and Heinz," says Mondelez CEO Irene Rosenfeld, "and we believe they can be of great help to us."
- 3G uses "zero-based budgeting" whereby managers have to build budgets from scratch each year rather than basing them on the previous one. It means that executives have to re-justify expenses every year.
- Following the acquisition of Heinz by 3G and Berkshire Hathaway, the food group has cut 2,000 jobs and closed three plants.