|
A
Nestle spokesman told Reuters the job cuts would affect about 60
workers in the equatorial Africa region after the Financial
Times reported that the company is pulling back because it
overestimated growth in the middle classes.
"We thought this would be the next Asia, but we have realized
the middle class here in the region is extremely small and it is
not really growing," Cornel Krummenacher, chief executive for
Nestle’s equatorial Africa region, told the newspaper.
Nestle has about 11,000 employees in the whole of Africa, the
spokesman said, with the equatorial Africa region encompassing
21 countries including Kenya and Angola.
Krummenacher also said in the FT that Nestle would be lucky to
reach annual growth of 10 percent in the equatorial Africa
region in future years and, with the job cuts, hopes to break
even next year.
($1 = 198.8000 naira)
(Reporting by Ankush Sharma in Bengaluru and Joshua Franklin;
Editing by David Goodman)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
