Campbell Soup Co., pressured by a minority of founding family shareholders who want the company sold, said Friday that it will lay off 11,000 workers and sell or close a vast number of businesses to improve profits.
Filling out a restructuring begun last month, Campbell is selling businesses with more than $500 million in revenues and laying off 20 percent of its 55,000 worldwide work force.
The businesses to be sold include Campbell's Fresh Foods Group, consisting of mushroom farms, Mrs. Giles refrigerated salads, Marie's salad dressings and Campbell's Canadian mushroom business. It is also selling a frozen poultry operation in Sumter, S.C., salmon processor Domsea Farms Inc., Win Schuler's cheese business in Marshall, Mich., and McKellar Watt chilled food operations in Govan, Scotland.
Campbell will close a plant in Fremont, Neb., with 240 workers, a Pepperidge Farm plant in Grand Prairie, Texas, with 50 workers and an equipment manufacturing facility in Moorestown, N.J., that employs 51 people.