Nestle S.A. said Thursday that it may cut up to 400 of 550 jobs at its Galderma research and development center in southern France.
The decision comes during a review of its global operations, a company spokesman said. In late August, Nestle said it would cease operations of a skincare-product factory in Switzerland, resulting in the loss of 190 jobs.
Nestle plans to offer about 300 of the 550 employees at the R&D center in Sophia Antipolis a voluntary leave package. Another 100 could be transferred to a new biologics and systemic-treatments center, the spokesman said.
The news was first reported by Reuters.
The Swiss company is under pressure to satisfy investors and has been the target of activist investor Third Point LLC THPT After taking a $3.5 billion stake in Nestle, the hedge fund outlined a number of changes the consumer-goods company could make in June, including improving margins, innovating its core business and selling noncore assets as well as its 23% stake in French cosmetics company L’Oreal SA.
In response, Nestle announced cost-cutting efforts and possible divestitures.
By Max Bernhard
Source: MarketWatch
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.
