Kraft said the costs avings would be found across distribution, marketing and product development, while long-term revenue growth of 5% has been earmarked.
The US firm last week roused concerns that its ownership of Cadbury would spell a culling of hundreds of UK workers when it announced the closure of Cadbury's Somerdale plant – a continuation of Cadbury's strategy before it was acquired.
Today, disclosing its fourth quarter results, Kraft did not divulge specific details about its targeted cost savings.
Irene Rosenfeld, Kraft chief executive, referred to the acquisition of Cadbury, noting that "as a combined entity, we are well positioned to deliver top-tier performance and accelerate our growth."
In its financial results, the group said revenues in quarter four increased by 3.2% to $11bn – helped by its performance outside of the US.
Sales of Kraft Foods Europe jumped 8%, while sales in its US domestic market fell 1.5% – hit significantly by a 13.7% drop in cheese revenues.
– competing head-on with Cadbury's Dairy Milk.
Kraft highlighted Milka's "solid growth" in Europe – despite the weak economic conditions.
Kraft will disclose consolidated results from February 2 this year.
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