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News Breaks | | | | February 19, 2013 | | 05:55 EDT |  | DANOY | Danone confirms plan to cut 900 jobs across 26 European countries
To address a lasting downturn in the European economy and consumer trends that have led to a significant decline in its sales in the region, Danone announced on December 13, 2012 that it was preparing a cost-reduction and adaptation plan for its organizations to win back its competitive edge. The project calls for three major changes: 1. A reduction by approximately half of management units, achieved by combining teams from several countries into multi-country units. 2. The combination within subsidiaries of several management functions that currently operate separately. 3. Focusing each level of management on missions and projects that have a direct impact on business growth. The proposed plan would lead to the suppression of around 900 management and administrative positions across 26 European countries and will be conducted in contact with all works councils representatives, at both European and local level. It will be deployed over a two-year period. | |
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| June 6, 2013 | | 06:03 EDT |  | DANOY | Danone upgraded to Outperform from Neutral at Exane BNP Paribas
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