France-based bakery group Neuhauser has announced a programme of job cuts in a bid to boost its earnings.

Neuhauser said the object of the restructuring move was “to regain a lasting profitability”, which the company said it had lost amid strong competition in the sector.

The group’s works council was informed of the cutbacks at a meeting earlier this week, which will concern three of the group’s 16 sites in France.

Neuhauser employs 2,086 staff. Some 370 employees are affected by the plans. The company said 201 staff are to be offered alternative employment within the firm, while provision is made for 169 voluntary redundancies.

Neuhauser, which us majority-owned by the Soufflet group, posted a turnover in 2015 of EUR428.6m (US$458.4m).

The company said its management proposes to accelerate the implementation of a re-organisation project initiated in 2014 that focuses on two priorities “crucial for the Boulangerie Neuhauser: modernisation and adaptation.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.