Hershey Co lays off some workers this week

Hershey Co has laid off a small number of employees, less than 1% of its 20,000 workforce, as part of organizational changes due to rising cocoa prices. The layoffs are part of a broader productivity initiative aimed at saving $200 million by 2026. Despite price hikes on its products, Hershey reported a 17% drop in sales and has cut its annual profit and sales forecast, indicating further price increases may be necessary to manage rising cocoa costs.