Cadbury today revealed it is set to close its traditional final salary pension scheme – as it confirmed it is looking to axe up to 150 head office jobs.

New owner Kraft said the final salary pension scheme is likely to be closed and replaced with a new scheme. The scheme currently faces a  major shake-up in the next few months, with the closure to new members this summer.

The jobs are going at Cadbury’s HQ in Uxbridge and at its Bournville base in Birmingham and Uxbridge as new owner Kraft starts its cost-cutting drive in the wake of last month’s £11.4 billion takeover.

Cadbury spokeswoman Dionne Parker confirmed the company had launched a 90-day formal redundancy consultation with around 150 staff at Uxbridge and Birmingham – the first such move since Kraft succeeded in its takeover a month ago.

The job losses and pension scheme review come as Kraft aims to save £450 million in the next three years.

The UK pension scheme currently faces a deficit of £200m. The consultation process with the scheme’s 30,000 members  is due to finish later this month.

Spokesman Richard Johnson, Kraft Europe’s corporate affairs director, said the Cadbury final salary scheme was likely to be closed to new members this summer.