The Philippines unit of Swiss food giant Nestlé has said it closed its noodle factory earlier this week.
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The noodle factory, which is located just north of Manila, employs 248 people and produces instant noodles marketed under the company’s Maggi brand.
Nestlé said the displaced workers will be offered work at other Nestlé plants.
The decision to close the factory is reportedly due to the Maggi brand struggling to compete with other instant noodle brands.
The Maggi brand will now also be focused on cooking products such as sauces, reported Dow Jones News.
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By GlobalData
