German frozen food company FRoSTA plans to cut 80 jobs out of its current workforce of 1,100, as it tries to cut costs and return to profit in 2004.
Go deeper with GlobalData
The job cuts, part of FRoSTA’s restructuring programme, are expected to result in cost savings of €3.5m (US$4.1m) in 2004 and €1.5m in 2005.
The company posted a net loss of €6.6m for the first nine months of 2003, compared to a €1.7m net profit a year earlier. FRoSTA said it expects to post a net profit for the fourth quarter of 2003, and a full-year 2003 net loss.
The restructuring programme also includes the relocation of FRoSTA’s German marketing and sales departments from Bremerhaven, northwest Germany, to Hamburg, in northern Germany, reported the German News Digest.
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.
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
