Kraft Heinz Co. said it plans to cut $2 billion in costs over five years, returning to the strategy that drove the company’s formation in a merger five years ago.
Chief Executive Miguel Patricio said in an interview that the company would make cuts more strategically than during the tenure of his predecessors, when the company’s brands lost billions of dollars in value. Mr. Patricio, who became CEO last year, said he plans to use some of the savings to re-energize sales of certain brands, increasing marketing spending by…
