Glanbia, the Irish food group, is to cut 65 jobs from its domestic dairy ingredients business in a bid to stem losses from the division.
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The company said its Irish dairy ingredients business would be “significantly loss-making” in 2009. The job losses come after a series of cost cuts earlier in the year.
The job cuts will come from Glanbia’s sites at Ballyragget – where 55 employees face the axe – and Virginia.
“2009 been a very difficult year for Glanbia milk suppliers and recognising this the board, last April, decided to support manufacturing milk prices to sustain our farmer supply base,” explained Jim Bergin, CEO of Glanbia Dairy Ingredients.
“This current loss-making position is not sustainable for Glanbia Dairy Ingredients Ireland or for our milk suppliers.”
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By GlobalDataEarlier this week, Glanbia cut its earnings target on the back of what the group called a “deterioration” in the performance of its domestic dairy business.
However, speaking to just-food on Wednesday (18 November), a senior Glanbia executive insisted the group’s US cheese business was performing well – and said the company could look at building its nutrition division through M&A.
