ConAgra Foods said on Thursday that it will move its headquarters from Omaha, Nebraska, to Chicago in the summer of 2016 and plans to cut 1,500 jobs that could translate into $200 million in savings over three years.
"Today's announcements are important milestones as we continue to execute against our strategic plan to build a focused, higher-margin, more contemporary and higher-performing company," Sean Connolly, president and CEO of ConAgra, said. "We are making difficult, but necessary, decisions to enhance productivity, drive standardization and enhance flexibility to deliver improved profitability.”
The restructuring's expected elimination of approximately 1,500 positions is about 30 percent of the company’s global, office-based workforce and excludes any impact from a planned divestiture of private-label operations. Plant positions will not be eliminated in connection with this restructuring.
In a statement, Chicago Mayor Rahm Emanuel thanked ConAgra executives for choosing the nation’s third-largest city as its new home.
“I am honored to welcome ConAgra Foods to the City of Chicago. By choosing Chicago as their new home, ConAgra Foods sees the same strengths that so many other companies see in relocating their headquarters here from our talent, to our transportation, to our quality of life,” Emanuel said.