Cashzilla

Kraft takeover of Cadbury bad news for jobs, fair trade and dino digestion

Posted on 19. Jan, 2010 by Cashzilla in Uncategorized, lifestyle

Well it seems as though the deal is going through after management announced they would support the Kraft proposal to takeover Cadbury. This is despite comments by Gordon Brown and, the trade union, Unite’s warning that Kraft plans at least 10,000 job cuts worldwide to slash costs and repay the cash it will need to borrow for the deal. This assertion is predicated on Kraft’s history when it bought Terry’s, another well-know British chocolate company, in 1993 and then closed its York factory shortly afterwards.

In advance of the take-over, a professor at Henley Business School also publicly expressed fears over Cadbury’s UK jobs, the possible ‘food security’ implications, as well as highlighting that, “the company has rejected fair trade as a model for their coffee and chocolate” and that this “may impact on the reputation of the UK in areas of strategic importance such as India and Africa.” If this is the case, then it may also significantly affect the highly respected Green& Black’s brand which Cadbury’s currently own.

Worries over the deal appear to be widespread, with few people actually welcoming the news.

The main fear of this old dinosaur though is whether the good old bar of Dairy Milk will end up tasting like American chocolate. Yeuch! I changed to munching on chocolate some time ago after I gave up eating tourists because it seemed that most of them were now American and I am not really a fan of fast food. Now it looks like I may have to find something else again.

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Tags: Cadbury, Cadbury Dairy Milk, Cadbury plc, featured, Gordon Brown, Green & Black, Henley Business School, Kraft