Deerfield's Mondelez Cuts Costs, Adds Snacks

DEERFIELD, IL — Snack food maker Mondelez International's stock is up more than 10% in the past year, but it has also cut roughly 9,000 jobs from its global workforce last year.

The company that makes Oreos, Chips Ahoy, Triscuit and Ritz operates in more than 80 countries and sells in more than twice that many, but it has been cutting costs worldwide. Those cuts have kept profit margins rising despite what the company called "significant economic disruptions, political uncertainties and slower global category growth."

On top of closing or selling older manufacturing plants, the company uses "Zero Based" budgeting in an effort to shave unneeded expenses, according to the Chicago Tribune.

Last week, Mondelez introduced a new line of snack food aimed at millennials. Advertised as being free from genetically modified ingredients and artificial flavoring, the new crackers, crisps and bars are branded "Vea."

Mondelez stock has also been boosted by rumors that Kraft Heinz may acquire the company. Its stock had risen on news that Kraft Heinz's attempted purchase of European consumer goods company Unilever fell through.