FrieslandCampina will cut approximately a thousand jobs by the end of 2021, mostly in the Netherlands, Belgium and Germany. The dairy producer has been forced to cut its costs by the corona pandemic, a statement said on Tuesday.
CEO Hein Schumacher speaks in the statement of a “perfect storm”. Setbacks directly or indirectly due to the pandemic converged, he said: “The Hong Kong-China border that is still closed, the loss of foodservice sales worldwide, the devaluation of local currencies and lower bulk dairy prices.”
FrieslandCampina expects that the operating result this year will be negatively impacted by restructuring costs. Senior management does not have to count on long-term bonuses for 2020.
In the Netherlands, Belgium and Germany activities will be transferred and some production locations will be closed. In the Far East FrieslandCampina will work more with e-commerce.
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