Campbell hires Accenture; some jobs to be cut

Posted: June 26, 2012

Campbell Soup Co., of Camden, has hired Accenture to handle back-office financial operations, such as credit, billing and collections, and will eliminate about 70 of the 110 jobs in its Cherry Hill office over the next eight to ten months, Campbell spokesman Anthony Sanzio said.

Sanzio did not provide an estimate of how much the move would save, but said the savings would be "significant." Under new chief executive Denise Morrison, Campbell is attempting to rebound from a protracted growth slump, but its stock continues to struggle.

Over the last year, its shares have lost 17 percent of their value, compared with an 18.6 percent gain in the S&P 500 Packaged Foods index. Campbell's shares were off 17 cents to $31.89 in early trading Monday on the New York Stock Exchange.

– Harold Brubaker

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