Danone Cuts at least 2,000 Jobs

Danone Cuts at least 2,000 Jobs, 500 in France.

French multinational food-processing company Danone, whose business has been battered by the COVID-19 pandemic, has announced that it will cut up to 2,000 positions in France and abroad in order to “simplify” its organisation, return to growth and increase profitability.

The maker of Evian bottled water and Activia yoghurts said the changes would save €1bn by 2023, and promised that its recurring operating margin would return to pre-Covid levels of above 15 per cent by 2022.

Speaking on November 23, Danone CEO Emmanuel Faber said “in France, some 400 to 500 people, mainly directors and managers” will be affected by the job cuts. In Paris, Danone plans to merge its world and French headquarters under one roof.

The multinational that employs approximately 100,000 people worldwide hopes to reduce its general and administrative expenses by €700 million, which represents about 20 per cent of the company’s structural costs. Danone is also counting on “new sources of industrial productivity” to make it possible to reduce the cost of its products by some €300 million.

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Written by

Tony Winterburn

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