Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

Danone to cut fewer jobs than initially planned -Les Echos

2021 09 09T180558Z 1 LYNXMPEH880XG RTROPTP 4 DANONE RESULTS - Global Banking | Finance

PARIS (Reuters) – French food group Danone has trimmed its restructuring plans, with total job cuts now seen at around 1,600 globally versus a 2,000 figure announced last year, French business daily Les Echos reported on Thursday.

The world’s largest yoghurt company, Danone had unveiled its reorganisation in November 2020 with the aim of becoming leaner and more agile, saving one billion euros ($1.18 billion) a year by 2023, in a post-COVID environment.

But Danone has since ousted CEO Emmanuel Faber, who was replaced by Antoine de Saint-Affrique, and announced a nearly complete overhaul of its board, removing almost all its old-timers after clashes over the group’s lacklustre profit margins and sales compared with some rivals.

“The plan should concern close to 1,600 job cuts globally and not affect the plants but (rather) executives, assistants and sales persons,” Les Echos said, without quoting its sources.

Danone was not immediately available for comment.

In France only, job cuts have been revised to around 300 compared with an initial figure of 458, the newspaper added.

($1 = 0.8450 euros)

(Reporting by Benoit Van Overstraeten and Jean-Stephane Brosse; Editing by Mark Heinrich)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post