As Greencore Confirms UK Restructure Plans, Talks With Staff Commences
International producer of convenience food Greencore has confirmed that it is simplifying its corporate structure in the UK into two divisions, according to a recent statement.
The statement outlined, "The new structure will deliver improved efficiency and a better ability to respond to its customers’ needs."
It said that as a result of these changes, the food firm is now in consultation with a number of employees.
"The company is unable to provide any further comment until this process has been concluded." The statement said.
US Business Share Drop
In August, the Dublin-headquartered chilled food manufacturer, saw a 14% drop in its share price value, which was reportedly triggered by the loss of a major contract with US coffee firm Starbucks to supply the coffee chain with frozen sandwiches.
Headquartered in Dublin, in July, Greencore reported revenue of £636.5 million in the third quarter of its financial year, which represents an increase of 76.6% on a reported basis, and of 11.8% on a pro forma basis.
It anticipated that its 2017 performance would remain in the range of current market expectations, as a result of challenging trading conditions.
The company plans to issue its next trading update on the release of its full year results on 28 November.
© 2017 - Checkout Magazine by Donna Ahern