Spanish baker Panrico has announced plans to downsize its operations as part of a cost-cutting plan.
The move will see Panrico restructure the group’s industrial operations and reduce its cost structure, focus on higher value-added brands and improve management at the point of sale.
The company said it has made the move in order to “ensure the survival of the group and the largest number of jobs”.
“One of the measures of the plan is to reduce structural costs, including staff, to adapt the template to the current and future demands imposed by the market,” it said.
Panrico did not confirm how many jobs will be affected, but reports have estimated the number at around 197. The facilities understood to be affected by the review are located in Santa Perpetua in Zaragoza and Puente Genil.
“The company has already informed the employees affected by the restructuring and continues with the implementation of the strategic plan.”
Panrico has closed two facilities this year. In June, the company announced plans to close its production facility in Seville and two months later confirmed plans to close its Santiago plant.