HERSHEY Foods Corp. will cut 400 jobs and close plants because it wants to concentrate on growing their existing Reese's peanut butter cups and Hershey's bar brands, which account for just 35 per cent of sales.

The Pennsylvania-based company will begin closures next year but did not specify which plants or how many will go. The changes will save the company US$65 million per year. Hershey had annual sales of US$4.2 billion in 2000.

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