Nestlé to axe 400 jobs in France
29 Jan 2018 --- Nestlé has announced that it is planning to cut as many as 400 jobs in France in support services and HQ functions, as it seeks to cut cost and boost company efficiency.
The push is part of a program that Nestlé unveiled in 2014 to simplify its business-support structure. The company, Europe’s biggest by market value, had 328,000 employees worldwide in 2016.
France is Nestlé’s largest market in Europe by sales.
The Swiss food group, which employs 13,000 people in France, reportedly wants to avoid layoffs and attrition may account for some reduction in headcount as Nestlé consolidates seven sites around Paris into one by 2020, a spokesperson has said, according to Reuters. Nestlé will offer the employees retraining to switch to other positions and accept voluntary departures.
Back in September, the company already announced plans to cut 450 out of 550 jobs at its Galderma research center on the French Riviera.
Nestlé has come under pressure to shift gear from activist shareholder Third Point, which in June, revealed a US$3.5 billion stake. Nestlé has satisfied some demands, such as buying back shares and setting a margin target.
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