Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Food And Beverage
Manufacture Of Food Products
10 - Manufacture of food products

500 jobs
Number of planned job losses
Job loss
Announcement Date
31 August 2005
Employment effect (start)
Foreseen end date
31 December 2007

Description

Dutch food company CSM will cut some 500 jobs in the coming years, the CEO, Gerard Hoetmer, said on 31 August 2005. According to Hoetmer, the workforce reduction is part of the earlier announced cost-cutting programme for 2005 to 2007.

CSM cut 500 jobs in 2004, in addition to the thousands of jobs which were cut due to the sale of CSM's Sugar Confectionery division to British investment company CVC Capital Partners at the end of 2004.


Sources

  • 2 September 2005: De FinanciĆ«le Telegraaf

Citation

Eurofound (2005), CSM, Internal restructuring in Netherlands, factsheet number 62367, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62367.