McCormick & Co. cutting 10% of U.S. supply chain staff to increase efficiency, profitability

McCormick & Co. Inc. CEO Lawrence Kurzius said the company is cutting 10% of its American supply chain staff as it looks to boost profits in a tough business environment. Kurzius told analysts that McCormick (NYSE:MKC) is reducing staff from its manufacturing, warehouse and distribution center departments. The cuts come as the company raised its cost savings target from $100 million to $125 million, with $75 million of those savings to be seen in 2023.