Dutch dairy cooperative FrieslandCampina on Tuesday said it would cut 1,800 jobs worldwide in the next two years in a drive to reduce costs and improve profitability.
FrieslandCampina said the job cuts would result in up to 200 million euros ($215 million) in savings, as part of a program to lower annual costs by 400 million to 500 million euros from 2026.
FrieslandCampina is one of the world’s largest dairy cooperations, selling its milk, cheese and baby formula and ingredients for the food and pharmaceutical industries in more than 100 countries across the globe.
It employs around 22,000 people in 30 countries, and had a turnover of 14 billion euros in 2022.
($1 = 0.9281 euros)
Source : Reuters Dec 12th 2023 Reporting by Bart Meijer; Editing by Kirsten Donovan