More than 400 jobs to be slashed as east-end cookie factory closes

Snack and cookie powerhouse Mondelez announced Wednesday it would be closing its Montreal manufacturing facility on ViauStreetby the end of 2017.

Earlier in the day, 454 employees were informed of the company's decision, whichwill happen in phases.

In a news release, a company vice-president said it was a "difficult but necessary decision."

"Our focus right now is on our employees in Montreal and we are doing everything we can to provide a smooth transition and support to those affected by this decision," OlivierBouret said.

The company said the move is part of a global strategy to increase efficiency.

The factory producescookies and crackers. The company said more that 95 per cent of the products made in Montreal will be made by other Canadian facilities, whilethe rest will be made in the U.S.

Mondelez owns a number of high-profile brands including Oreo, Chips Ahoy!, Cadbury, Maynards, Ritz, Toblerone and Triscuit.

Last year, the U.S.-based company posted approximately $30 billion in net revenues.