Consumer goods giant Sara Lee Corp has confirmed it is to axe a further 1,000 jobs, raising the number of staff being made redundant to 14,263 - nine per cent of it's workforce.

Most of the new cuts will be made in the company's intimates and underwear business, where sales have declined under pressure from discount pricing by competitors such as Fruit of the Loom.

The company, whose products range from coffee to sausages and underwear, announced the cuts in its quarterly documents, where it also revealed it earned $242 million in the quarter ended October 31, a five per cent fall over the same period last year.

In its annual report, the company had envisaged cutting 13,200 jobs this year. But its latest move was revealed in quarterly documents filed with the Securities and Exchange Commission last week