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The cost-cutting plan of the Swiss food company Nestle is almost half done. Developed and approved in 2016, the plan envisages that by 2020, the company's expenditures will decrease by 2-2.5 billion Swiss francs. According to Francois-Xavier Roger, Chief Financial Officer of Dow Jones, at the moment Nestle has reduced total expenses by approximately 1.2 billion francs. The planned reduction in the cost of procurement operations sold by 65%. At the same time, the plan to reduce production costs is fulfilled by only 35%. Roger noted that some enterprises are redeveloped, and every month one factory closes. According to him, the implementation of the plan has helped to significantly improve the company's financial performance. Thus, capital expenditures amounted to 4.2% of revenue versus 5.9% in 2012.
The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
Levi Strauss & Co (LEVI.N) expects that its business would lose footing in the second half of the year. The company deemed it possible even as its sales were seen recovering at its reopened stores, following virus-related lockdowns imposed ...
On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would ...
European stocks ended the week on a stronger note, with FTSE shares leading the rally, after European Central Bank (ECB) President Christine Lagarde said that the worst of the pandemic was over. However, Lagarde cautioned that there could ...
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