Campbell Soup Co. (NYSE: CPB) is shuttering its facilities in Norwalk and consolidating its operations into its headquarters in Camden, New Jersey.
The company, which has been in Norwalk since 1937, is also merging its offices in Charlotte, North Carolina, into the Camden headquarters, where the company plans to invest approximately $50 million over the next three year. In a press statement, the company added that it “expected to realize cost savings from consolidating the buildings beginning in fiscal year 2024 and reach $10 million in annual cost savings by fiscal year 2026.”
In Connecticut, Campbell will continue to operate the Pepperidge Farm bakery in Bloomfield that employs 400 people, adding that it was “actively hiring and has plans to expand in 2023.” As for the Norwalk facility, Campbell Soup will begin to relocate workers in phases to Camden starting in mid-2023; employees who choose not to relocate will be offered “job placement support and severance benefits commensurate with level and years of service,” the company stated.
The Norwalk office has approximately 170 employees and is part of Campbell Soup’s snacks division. The company plans to sell its Norwalk property after the relocation process to Camden is completed.
