In the latest FI Fast Break news podcast, we examine the job cuts that continue to ravage F&B companies.
In other food industry news, Target plans to eliminate about 500 jobs, with 400 of the cuts occurring in its supply chain operations and another 100 at the store district level. Some regional offices will be closed, but no store-level jobs would be impacted, reported NBC News. Full Story Target and its retail media partner Roundel will also test advertising in ChatGPT. These ads will appear alongside users’ conversations and are based on prompt keywords. Full Story
Meanwhile, operators are gearing up for a high‑stakes Valentine’s weekend. With early reservations and shifting consumer behaviors signaling strong demand despite economic pressure, restaurants that leverage social listening, personalization, and premium takeout will come out on top. FI Focus
Elsewhere, Hershey anticipates “lower sensitivity” on volumes from pricing across its portfolio even as it recovers from cocoa inflation. Both Hershey and Mondelez had locked in cocoa rates through hedging before this year’s sharp decline, although futures remain above historical levels, reported Just Food. Full Story
Uber has agreed to acquire
And finally, Ocado could cut up to 1,000 jobs as part of its renewed cost-cutting drive after losing contracts with Sobeys and Kroger. One source said an announcement could come as early as this month and expects that most cuts will occur in the company’s U.K. head office, reported The Times. Full Story
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