Mondelez slims down after biscuit sector crumbles

Global snack leader Mondelez International Inc is sliming down its corporate operation in China to cope with failing revenue and rising costs.

The maker of leading biscuit brands, such as Oreo and Chips Ahoy, plans to close down its Shanghai factory and switch production to Suzhou in Jiangsu province of East China.

At one point, the Shanghai operation had four production lines with 400 employees.