FDBusiness.com

Premier Foods to Cut 600 Jobs as it Doubles Cost Reduction Target

 Breaking News
  • HKScan Opens New €80 Million Poultry Plant HKScan, the Nordic meat group, has just opened its new, state-of-the-art poultry unit at Rauma in Finland. Valued at over €80 million, the new facility is the largest investment in HKScan’s history. Indeed, the state-of-the-art Rauma unit ranks among the most significant investments in the history of the Finnish food industry. Jari Latvanen, president and chief [...]...
  • Record Growth For UK Food and Drink Exports in First Half of 2017 The first half of 2017 saw exports of all UK food and drink grow to £10.2 billion, up 8.5% on the first half of 2016. This represents the highest first half exports value on record. The UK’s top 3 export products are whisky, salmon and beer. Contrary to recent export trends, stronger growth was reported [...]...
  • Nurturing Locally, Growing Globally – International Meat Congress ICoMST 2017 in Cork The 63rd International Congress of Meat Science and Technology (ICoMST 2017) took place at the Rochestown Park Hotel, Cork, during August 13-18, 2017 and was chaired by Teagasc’s Assistant Director of Research Declan Troy. Over 450 papers were presented at the congress, many by Teagasc researchers. The role of meat in strategies to achieve a sustainable diet [...]...
  • Tempting Batters Now With Clean-label Benefits A leading German natural starch producer, KRÖNER-STÄRKE, perhaps better known as a natural, starch supplier for bread manufacturers, has turned its attention to the convenience market. With a view to cleaning-up the unhealthy image of breaded or battered foodstuffs, the company has succeeded in developing specialist wheat starches which allow food processors to formulate on-trend, [...]...
  • B&R is Introducing a Hypervisor For Its Automation System B&R is introducing a hypervisor for its automation system. This software allows Windows or Linux to run alongside B&R’s own real-time operating system. That enables you to combine the control and HMI applications on a single PC, for example, or have an industrial PC double as both a real-time controller and an edge controller that [...]...
  • Florette Further Expands its UK Business In line with its strategy to be a major player within the UK fresh produce category, Florette UK & Ireland (part of the French Agrial group) has acquired the Wigan site of MyFresh Prepared Produce, a producer of a wide range of salad and vegetable products. MyFresh, Wigan, which employs almost 300 people and was [...]...

Premier Foods to Cut 600 Jobs as it Doubles Cost Reduction Target

Premier Foods to Cut 600 Jobs as it Doubles Cost Reduction Target
January 17
15:29 2012

Premier Foods expects to more than double the original £20 million cost reduction target, set last year, to over £40 million by 2013 by creating a stronger and more efficient business that will help release funds to invest behind driving the group’s recovery and growth plans. To achieve this target, every aspect of the company’s costs is being reviewed and a series of cost saving programmes will be initiated throughout the year that will result in reductions in the workforce, mainly from overhead functions. These reductions are expected to amount to approximately 5% of the company’s current workforce of around 12,000 employees.

Under the direction of a new leadership team, detailed plans have been put in place to focus investment behind growing the group’s eight ‘power brands’ of Hovis, Ambrosia, Mr Kipling, Sharwood’s, Loyd Grossman, Bisto, Oxo and Batchelors. Premier Foods is planning to double marketing spend behind these brands in 2012 and six of the ‘power brands’ will be back on TV with advertising in the first quarter, spearheading a full programme of new product innovation, promotions and marketing throughout the year.

To support the new focus on ‘power brands’, Premier Foods has accelerated the divestiture of non-core businesses, completing the sale of its Brookes Avana chilled food business and announcing the agreement to sell its four Irish grocery brands in recent weeks. Further selected businesses are expected to be divested in 2012 increasing the company’s brands focus and helping to deleverage the business.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements