Ingredients supplier CSM has suffered a 23% fall in profits in its first quarter (Q1) results driven by weaker demand in artisanal bakery in Europe, which could force job losses.
Dutch bakery supplies business CSM has announced that it will cut 200 jobs from its workforce across Germany, France and the US in the next two months in response to plummeting sales and falling consumer confidence.
European bakery ingredients leader CSM will chip away at its German
subsidiary as the firm announces job cuts and restructuring efforts
to bring about savings and underline its focus on becoming an
international bakery supplies player.
CSM, the Dutch food ingredients company, is considering the sale of
its sugar confectionery unit in order to concentrate on its core
bakery supplies and sugar operations - despite a very poor
performance from the bakery unit in the...