Finland-based bakery and candy group Fazer is to merge key units and revamp its international operations in a series of moves that will lead to the loss of 250 jobs.
Go deeper with GlobalData
The business, which has operations across Scandinavia, the Baltic states and Russia, plans to combine its bakery and confectionery arms and create a separate unit for its foodservice subsidiary.
Fazer said its growth in recent years had led to the group consisting of four divisions. Fazer Amica will continue as its foodservice arm, while the three other units – Fazer Bakeries, Fazer Confectionery and Fazer Russia – will be combined into a single bakery and confectionery business.
President Karsten Slotte said that continued development of the business needed “a new operative model”.
“We must tear down the framework of the old organisation in order to build a functioning agile company for tomorrow,” Slotte said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFazer is looking to generate EUR25m (US$35.5m) in cost savings by the middle of 2011.
