Sector News

Nestle to cut 400 jobs in France

January 29, 2018
Food & Drink

Swiss food group Nestle said on Friday it planned to cut as many as 400 jobs in France in support services and HQ functions, as it sees to cut cost and boost efficiency, confirming a media report.

The group, which employs 13,000 people in France, wanted to avoid layoffs and attrition may account for some reduction in headcount as Nestle consolidates seven sites around Paris into one by 2020, a spokesman said.

Earlier this week, Europe’s largest retailer Carrefour unveiled a voluntary redundancy plan for 2,400 employees at its French head office as part of plans to save 2 billion euros by 2020.

Nestle, the world’s largest packaged food firm, already announced in September plans to cut 450 out of 550 jobs at its Galderma skincare research center near Nice on the French Riviera.

Nestle has come under pressure to shift gear from activist shareholder Third Point, which in June revealed a $3.5 billion stake. Nestle has satisfied some demands, such as buying back shares and setting a margin target.

By Dominique Vidalon

Source: Reuters

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