Nestle Pakistan Has Cut 8% of Its Workforce Since Last Year
From the Blog propakistani Nestle SA's Pakistan unit has cut 8 percent of its workforce reported Bloomberg. According to the report, since the start of last year, the company has seen the slowest sales in 18 years and a weakening economy. Bloomberg reported that currently, the company employs about 4,200 people, down from 4,565 at the start of last year. This was disclosed by Waqar Ahmad Sheikh, head of corporate affairs at Nestle Pakistan in an email reply to queries from Bloomberg. The company's spokesman, Waqar Sheikh, said that the job cuts were "related to normal attrition" and that the company was replacing only critical business positions to stay competitive. The job cuts are the latest in Nestle's broader restructuring as it comes under pressure from an activist investor to boost returns, statedpakistanblogs.blogspot.comRead Full Post
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