News
James B. Bell
- February 26, 2024
Barry Callebaut has announced a significant cost-cutting plan which could result in the elimination of up to 2,500 jobs worldwide, representing approximately 19% of its current workforce of over 13,000 employees. This plan is aimed at reducing costs by 15% over the next 18 months while making strategic investments for the future.
Job Cuts and Strategic Overhaul
Barry Callebaut's Chief Executive, Peter Feld, revealed the intention to reduce jobs in an effort to eliminate duplication and improve efficiency. These cuts are part of a broader strategic overhaul that includes a CHF 500 million investment over the next two years and a reduction in costs by CHF 250 million annually.
Strengthening Core Operations
The company's strategic approach involves strengthening core operations, as well as decentralizing decision-making processes to be more responsive to market demands and customer needs. While these changes are significant, Barry Callebaut aims to emerge from this transition stronger and more agile in a competitive market landscape.
In summary, Barry Callebaut's cost-cutting plan signals a proactive measure to align its operations with evolving market dynamics while positioning itself for sustainable growth in the future.
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