Buffett-Backed Heinz Eliminates 7,400 Jobs in 20 Months Under 3G

HJ Heinz, the ketchup maker backed by Warren Buffett’s Berkshire Hathaway Inc., has slashed about 7,400 jobs in 20 months as his partners at 3G Capital worked to boost profitability.

Heinz had 24,500 full time employees as of Dec. 28, the Pittsburgh-based company said Friday in a filing with the U.S. Securities and Exchange Commission. That compares with 31,900 as of April 28, 2013. Buffett and 3G took the company private in June of that year. Buffett gets $720 million annually from his $8 billion preferred stake in the company, while 3G managers run operations.