Wednesday, July 29, 2015

Tastykake combines lines, cuts jobs in shift to Navy Yard

"The utimate earnings power of the bakery" should be clear next year

Tastykake combines lines, cuts jobs in shift to Navy Yard

0 comments

Tasty Baking is ahead of schedule in turning its 15 baking lines at its old Hunting Park Ave. bakery in North Philadelphia into seven more-automated lines at its new Navy Yard plant in South Philly, which means the transition could be complete by April instead of June, reports Janney Capital Markets analyst Mitchell B. Pinheiro in a report today.

Cupcakes, cookie bars and pies are now baking downtown, with other lines scheduled to move in the weeks after New Year's. The transition to fewer production lines means Tasty needs fewer workers. ADD: "Tasty's original estimate called for a headcount reduction of 215 or about 40% of the Hunting Park workforce," Pinheiro reminded me in an e-mail.

In his report, Pinheiro told clients that the "ultimate earnings power of the new bakery" should be clear by late next year. That translates into  job cuts, also "new product capabilities:" We hope that means something our doctors let us eat, and maybe more Tastykake jobs down the road, to repay the private and public investment.

0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
Also on Philly.com:
letter icon Newsletter