Sector News

Categories

Borderless Insights

Image
The Skills-Forward Revolution:   Stretching the Boundaries of Professional Flexibility
Image
Sustainability: Business Leaders Must Secure the Long-Term Strategy Despite Short-Term Pressures
Image
Negotiating Terms with a New Employer

Nestle looking into hiking working hours for Swiss staff – paper

February 23, 2015
Consumer Packaged Goods
(Reuters) – Nestle is looking into measures to boost productivity in Switzerland, including increasing working hours, after the central bank removed its cap on the Swiss franc, its Europe chief was quoted as saying in a Swiss paper on Sunday.
 
The Swiss National Bank (SNB) unexpectedly ditched its 1.20 francs per euro cap last month, sending Swiss stocks plunging, the franc soaring, and raising concerns about Switzerland’s export-reliant economy.
 
“We have to talk about everything, about pension plans, unnecessary wastage in production, better machine capacity, but also about working hours, for instance, an increase from 42 hours to 44,” Nestle’s director for Europe, Middle East and North Africa Luis Cantarell was quoted as saying in Swiss newspaper Schweiz am Sonntag.
 
Other Swiss companies are cutting prices, asking suppliers for discounts, paying staff in euros and demanding new hours to protect profits from a soaring franc currency.
 
Nestle employs over 10,000 workers in Switzerland, where it earns revenues of 1.5 billion Swiss francs (1.03 billion pounds), the paper said.
 
However, Nestle is not considering paying wages in euros, not even for workers who live in neighbouring euro zone countries and commute across the border to work in Switzerland, Cantarell said.
 
Uncertainty surrounding the SNB’s removal of the cap, as well as a popular vote last year to limit immigration from the European Union, has clouded Switzerland’s appeal as a stable business location and led to some calls for less regulation.
 
In a separate article in Schweiz am Sonntag, Nestle Chief Executive Paul Bulcke said he did not understand why regulation was increasing more strongly in Switzerland than in the rest of the world.
 
“This is making us unpredictable, and we have to ask ourselves, how reliable is this country?” Bulcke was quoted as saying.
 
(Reporting by Alice Baghdjian; Editing by Rosalind Russell)

comments closed

Related News

July 21, 2024

Danone taps R&D leader Carla Hilhorst to drive research and innovation strategy

Consumer Packaged Goods

Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.

Read more
July 21, 2024

Pernod Ricard to sell international wines portfolio to Accolade Wines owner

Consumer Packaged Goods

The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.

Read more
July 21, 2024

Aryzta appoints former employee Michael Schai as new CEO

Consumer Packaged Goods

Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.

Read more
More news

How can we help you?

We're easy to reach