Dutch potato starch giant Avebe has revealed that by 2004, its 3,000-strong international workforce will have shrunk by 450.

CEO Pieter Krijne said yesterday [Wednesday] that the job cuts are necessary as part of a cost-saving programme. Of the proposed cuts, 350 will be made from the 1,650-strong Netherlands staff.

The company posted a €20m (US$17.5m) profit for 2001. For this financial year, it expects to generate profit of between €10m and €15m.