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In hopes of turning business around, this year Kraft Heinz plans to cut the number of agencies it works with in half, while boosting its consumer-facing marketing efforts by 30%, CEO Miguel Patricio told analysts in a recent earnings call.
“I think it’s appropriate to start today’s update by recognizing that 2019 was a very difficult year for Kraft Heinz, for our employees, our board and our stakeholders,” Patricio said during the call, noting that in 2020 the company would redirect more dollars toward flagship brands, while reducing money spent on innovation and introducing new products.
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