In order for a business to thrive, it must be willing to change in order to adapt to an ever-changing market. Even large corporations like Campbell Soup need to make adjustments to remain competitive. In Feb. 2015, the company provided details of its plan for corporate restructuring, which was announced at the end of January at a conference in Florida.
At the core of the company's plan are cost reduction initiatives that are aimed at reducing costs over the next three years by approximately $200 million. The savings could then be applied to those portions of the company in which significant growth is anticipated. However, cost savings are not enough.