Cadbury's 'to axe 5,000 jobs'

Confectionery and drinks giant Cadbury Schweppes is believed to be planning to shed more than 5,000 jobs as part of a £300m (€443m) cost-cutting drive, a report said today.

The Dairy Milk maker is expected to announce that around 10% – some 5,000 – of its confectionery business workforce worldwide will be cut when it gives a trading update on Tuesday, according to The Sunday Times.