TreeHouse Foods Cutting 150 Jobs
TreeHouse Foods is cutting 150 jobs, including the role of its chief commercial officer, as part of what company officials said were planned actions to drive greater operational efficiency.
Scott Tassani, executive vice president, business president, and chief commercial officer, will be leaving TreeHouse on May 30. The position will be eliminated. Tassani will assist with the transition, and his duties will be absorbed by other senior leaders. The company will also be centralizing and reorganizing its corporate support functions, which will lead to the elimination of approximately 150 positions.
"We continue to see significant opportunity to improve our execution and consistency, positioning us to better serve our customers while driving improved profitability," said Steve Oakland, chairman, CEO, and president of TreeHouse Foods. "On our fourth quarter 2024 earnings call, we outlined additional supply chain and overall cost savings plans, and the actions we are announcing today follow through on those plans. We are streamlining our organizational and cost structures, which we believe will enable us to sharpen our competitiveness in what remains a dynamic consumer environment."
The company reaffirmed its prior financial guidance for 2025 of adjusted annual net sales in a range of $3.34 billion to $3.40 billion, and adjusted EBITDA from continuing operations in a range of $345 million to $375 million. This guidance continues to incorporate a partial year impact of anticipated cost savings associated with the job cuts, with the full impact to be realized in fiscal years 2025 and 2026.
As it relates to tariffs, net sales from customers outside of the United States were approximately 5% in 2024, with almost all of these occurring in Canada. As of today, nearly all the company's finished goods comply with USMCA. Given the evolving nature of the situation, the company will continue to evaluate any potential additional impacts.
