Danone, the world's largest yogurt-maker, is cutting up to 2,000 jobs as it targets $1.2 billion in annual savings | WHAT REALLY HAPPENED

Danone, the world's largest yogurt-maker, is cutting up to 2,000 jobs as it targets $1.2 billion in annual savings

Danone, the world's largest yogurt maker, is cutting up to 2,000 jobs as part of a major cost-saving restructuring, the Paris-based food producer announced Monday.

The company, which owns Alpro, Actimel, and So Delicious, among other brands, plans to reach 1 billion euros ($1.2 billion) in annual cost savings by 2023, it said.

Danone plans to achieve this by reducing its overhead costs by 20%, or around 700 million euros ($833 million), alongside saving 300 million euros ($357 million) by procuring goods more efficiently.

Danone, which has around 100,000 staff globally, will dismiss between 1,500 and 2,000 office staff, including up to one in four workers at its global headquarters in Paris, which it is considering relocating to a new site in the city, it said.
The company has struggled during the pandemic. Its sales in the third quarter fell 9.3% year-on-year to 5.82 billion euros ($6.92 billion

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