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Home Companies Company News

Here’s why Nestle is about to sack 15 percent of its workforce

Nairametrics by Nairametrics
June 16, 2015
in Company News, Spotlight
Here’s why Nestle is about to sack 15 percent of its workforce
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Nestle has announced it is planning to cut down about 15 percent of its workforce in 21 African countries which may include Nigeria. According to Financial Times, the downsize is  because it overestimated the rise of the middle class.

“We thought this would be the next Asia, but we have realised the middle class here in the region is extremely small and it is not really growing,” Cornel Krummenacher, chief executive for Nestlé’s equatorial Africa region, told the Financial Times in an interview. (goo.gl/a55Wy8)

He also said Nestle would be lucky to reach annual 10 percent growth in Africa in future years, and with the cuts, the company hoped to break even next year.

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Tags: Nestle
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Comments 12

  1. otimkpu1 says:
    June 16, 2015 at 11:41 pm

    Here’s why Nestle is about to sack 15 percent of its workforce https://t.co/0lUFXC3oit https://t.co/XxGTxGk3hH

    Reply
  2. Nairametrics says:
    June 16, 2015 at 11:41 pm

    Here’s why Nestle is about to sack 15 percent of its workforce https://t.co/D4GHbXNNTf https://t.co/OPGZL3neG4

    Reply
  3. ugodre says:
    June 16, 2015 at 11:41 pm

    Here’s why Nestle is about to sack 15 percent of its workforce https://t.co/sKJp7oY4pZ https://t.co/nugXFWEbxC

    Reply
  4. pdbraide says:
    June 16, 2015 at 11:41 pm

    RT @ugodre: Here’s why Nestle is about to sack 15 percent of its workforce https://t.co/sKJp7oY4pZ https://t.co/nugXFWEbxC

    Reply
  5. chonsyy says:
    June 16, 2015 at 11:42 pm

    RT @ugodre: Here’s why Nestle is about to sack 15 percent of its workforce https://t.co/sKJp7oY4pZ https://t.co/nugXFWEbxC

    Reply
  6. Nairametrics says:
    June 16, 2015 at 11:43 pm

    Here’s why Nestle is about to sack 15 percent of its workforce: Nestle has announced it is planning to cut dow… https://t.co/J77pIdfF82

    Reply
  7. oluwatosin_osho says:
    June 16, 2015 at 11:45 pm

    RT”@ugodre: Here’s why Nestle is about to sack 15 percent of its workforce https://t.co/7vk7wb6Fw6 https://t.co/G4jNEHPDfC“

    Reply
  8. Naijawhatsup says:
    June 16, 2015 at 11:48 pm

    Here’s why Nestle is about to sack 15 percent of its workforce https://t.co/RUxBNxyEQd

    Reply
  9. LegenD says:
    June 17, 2015 at 12:13 am

    Cut in workforce is a signal for the beginning of a great financial fall for Nestle.

    Reply
  10. ResPartner says:
    June 17, 2015 at 1:50 am

    Here’s Why Nestle Is About To Sack 15 Percent Of Its Workforce
    https://t.co/gkfyIxNxeQ

    Reply
  11. CSLStockbroking says:
    June 17, 2015 at 9:10 am

    Here’s why Nestle is about to sack 15 percent of its workforce: https://t.co/IBf3ylzTFY

    Reply
  12. ADIGUN100 says:
    June 17, 2015 at 9:19 am

    RT @CSLStockbroking: Here’s why Nestle is about to sack 15 percent of its workforce: https://t.co/IBf3ylzTFY

    Reply

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