![]() Mondelez manufactures some of the world’s most popular snacks, including biscuit brands Oreo, Ritz and TUC and chocolate brands Côte d'Or, Toblerone, Cadbury, and Fry's. The company changed its name to Mondelez in 2012, retaining its snack food business and spinning off its grocery operation to a new company, called Kraft Foods Group. ![]() Mondelez was founded in 1923 in Chicago, and began life as Kraft Foods. The industrial action caused a fall-off in inventory levels. The company has previously said it expects “some top-line headwinds” arising from transportation and labour constraints with third-party logistics partners and manufacturers.Ĭompounding existing supply chain problems, in August the company was hit by a four-week labour dispute at three of its Nabisco plants, with workers striking over pay and contractual issues. Warning on transport and logistics issuesĪs well as supply chain problems, a further inflationary factor is higher labour costs. ![]() “In the end we believe that supporting a brand, making sure the quality is there, and having the right prices is absolutely the right strategy for us," he added. Constitution, specializes in video reporting and opinion coverage about the American labor movement, economic policy, and corporate accountability. The CFO went on to say that the company is implementing these price hikes "thoughtfully" Unionized workers who make Oreos, Chips Ahoy, Newtons and other Nabisco snacks are on strike in five states over what they say are unfair demands for concessions in contract. More Perfect Union is a progressive non-profit news media organization founded in February 2021 by Faiz Shakir.The outlet, named after a phrase in the U.S. He predicted price increases of between 6 to 7 per cent in the first quarter of 2022. The Nabisco strike occurs as workers around the country are using newfound leverage in a tight labor market to demand better pay, schedules, benefits, and work-life balance from their employers. Speaking to Yahoo Finance Live, Zaramella also warned US consumers that they can expect an inflationary cycle to drive up product prices. He added: "When we look at supply chains across the world, there are inflationary pressures that are mostly due to several bottlenecks in supply chains that are globally interlinked."Ī shortage of haulage labour was one bottleneck cited as a major factor by the CFO. Quite honestly I believe 2022 is going to be a tough situation for global supply chains." "I think the holiday season ahead of us will put even more strains on global supply chains. "I expect this to continue for the entire 2022," Zaramella said. The strike ended after union workers voted to approve a new five-year labor contract. The strike is the first to affect Kellogg's Battle Creek plant since 1972, and the first at the Lancaster plant since 1985. Holidays 'will compound US supply problems' It is one of several strikes conducted by the BCTGM in 2021, including strike action against Frito-Lay and Nabisco. And he poured cold water on some economists’ predictions that supply chain problems would ease before the end of 2021. Speaking about Mondelez’s Q3 earnings results, chief financial officer (CFO) Luca Zaramella said supply bottlenecks "haven't got any better". The multinational food, drink and snacks company Mondelez International has said it expects supply chain problems in 2022 to be every bit as tough as this year.
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