Royal Wessanen nv (KJWNY.PK) Thursday announced plans to reorganise its European and Frozen Foods activities, as part of its cost-cutting strategy. Upon implementation, the company's workforce will substantially reduce, impacting approximately 300 full-time equivalents in Europe.
Within the core Wessanen Europe, the company is planning to reduce approximately 190 full-time equivalents throughout its business, including at its corporate headquarters. The company said it will also announce various divestments.
At Frozen Foods, the Beckers and Favory organisations will become one integrated company with the aim to strengthen its Benelux market positions. The company will also close the Favory snacks plant in Deurne in March 2013.
After implementation, the planned transformation is expected to generate consolidated cost savings in the order of 15 million euros per annum, starting from 2014. The costs associated with its implementation are estimated to be 24 million euros.
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