The world’s largest yogurt maker, Danone is planning to cut around 2,000 jobs globally in cost cutting measures to revive profitability. The company said that it is considering pulling global headquarters closer to the base of operations in Paris, France. The company aims to save upto 1 billion euros ($1.2 billion) by 2023 after these measures.
The job of around 2000 people represent 2 per cent of Danone’s total staff. In a call with analysts, Chief Executive Officer Emmanuel Faber said, “We had structural weaknesses in the way we worked and organised. We were over-innovating, and pushing products we weren’t able to support or that wouldn’t make it as a lasting innovation. It was a misuse of resources.”
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