Sector News

ADM to cut jobs at animal feed unit Neovia in France

June 19, 2019
Consumer Packaged Goods

Archer Daniels Midland Company plans to cut 127 staff at its recently acquired Neovia animal feed business in France to eradicate job duplication, the head of the group’s animal nutrition department said on Tuesday.

Chicago-based ADM took over Neovia for 1.54 billion euros ($1.73 billion) this year as part of the U.S. farm giant’s strategy to expand in the fast-growing animal nutrition sector.

Most job cuts will be at Neovia’s former headquarters in Saint-Nolff in the northwestern region of Brittany, with some at its research lab in Chateau-Thierry, east of Paris.

The plan was put forward to unions on Tuesday.

About 66 employees will be affected in addition to some people leaving who will not be replaced and temporary contracts that would not be renewed. Job losses will be seen in human resources, finance, legal, communications and marketing.

“We will share these services within ADM, at regional and global level,” ADM Animal Nutrition President Pierre-Christophe Duprat told Reuters.

He said other regions would be affected by the global reorganization but declined to say how many jobs were at stake.

Neovia has a limited presence in North America but a large one in Europe, Southeast Asia, and Central and South America.

As of the end of last year, it employed 8,360 people worldwide, with 1,070 of them in France, making up the bulk of ADM Animal Nutrition’s global staff.

The group will slow the acquisition rate after Neovia made about 20 acquisitions over four years, Duprat also said.

“We need to consolidate what has been purchased, improve the business unit’s efficiency, perform organic growth and then we’ll see,” he said.

By Sybille de La Hamaide

Source: Reuters

comments closed

Related News

February 25, 2024

The Body Shop faces store closures, layoffs and ingredient surplus after Aurelius acquisition

Consumer Packaged Goods

Recent reports reveal The Body Shop will shut up to half of its 198 stores in the UK and cut the size of its head office, incurring hundreds of job losses. According to the firm overseeing the restructuring of the beauty retailer, closures will begin this Tuesday.

February 25, 2024

Kroger and Albertsons face lawsuits to block $24.6bn merger – Bloomberg

Consumer Packaged Goods

Amidst brewing tensions, the US Federal Trade Commission (FTC) and a coalition of states are poised to take legal action as early as next week, aiming to prevent grocery giant Kroger’s $24.6 billion acquisition bid for Albertsons, Bloomberg reported.

February 25, 2024

Diageo reportedly in talks to offload trio of brands, including Pimm’s

Consumer Packaged Goods

The owner of Guinness and Baileys has hired financial service group Rothschild to explore the sale, which includes Pimm’s, fruit liqueur brand Safari and Pampero rum. Each brand could be offloaded individually or as a three, according to Sky News.

How can we help you?

We're easy to reach