Kraft Heinz (NASDAQ: KHC) owns some of the most iconic food brands in the world, including both of its namesakes. But the company's portfolio, as with many of its competitors, has become bloated and unwieldy. It is trying to do something about that. Will it be enough?

Both Kraft and Heinz were very large food companies before they merged, with the help of Warren Buffett's Berkshire Hathaway, to create Kraft Heinz in 2015. The goal back then was to bring together two cultures that had become soft over time and to get them back into shape with cost cutting and efficiency efforts. That didn't work out quite as well as planned, since you can't really cut your way to profits over the long term.

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Source Fool.com