The Hershey Co. (HSY) said it will cut down 300 jobs out of the 13,000 of its total workforce. The decision came amid a cost-cutting program as the company's sales in China has been on a slowdown especially in April and May.

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This is the third time that the chocolate company has trimmed its full-year revenue forecast amid weak sales in China.

The Pennsylvania-based candy giant made the announcement Friday morning, saying that it expects a record of $65 million to $75 million pre-tax savings through the decision.

Hershey called its move a "productivity initiative."

The company did not detail where the job cuts would take place, but they said it would not disturb the manufacturing business. It also said it will be offering voluntary buyouts before resorting to layoffs, according to USA Today.

In China, Hershey's Kisses are more known as gifts rather than for personal consumption. However, the country's recent slowing economy has resulted to consumers cutting back on spending. Chinese grocery stores rarely have chocolate items on the rack.

Hershey has said it wants the People's Republic to be its second biggest market by 2017, saying that they are anticipating $450 million in sales this 2015. However, according to analysts, HSY will possibly struggle in meeting their target, reported Reuters.

"We have taken a fresh look at how our resources and people are deployed globally and are better aligning our structure to the company's long-term strategies and goals," according to Hershey CEO John Bilbrey.

"Macroeconomic challenges and trends are affecting consumer shopping behavior resulting in continued softness within the China modern trade, particularly the tier one hypermarkets where the company generates the majority of its chocolate sales," added Bilbrey.

The focus of the company will now be on getting the chocolates inside small stores and re-evaluation of the corporate structure.

Hershey is the biggest chocolate maker in North America. Its list of products include Hershey chocolate bars and Reese's Peanut Butter Cups.

In New York trading, the company's shares has fallen more than 2.5%, according to the BBC.

Troubles in China has come at a worse time for the company as United States consumers, Hershey's biggest market, are starting to become increasingly health-conscious.

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