Danone announced this morning the launch of the “Local first” adaptation plan, which fundamentally changes the group's managerial structure.
Instead of a global organization by categories, the group will move to a local organization by zones.
It will now be regulated around 5 geographic areas: Europe, Asia / Africa / Middle East, China / Oceania, CIS / Turkey, and Latin America.
The plan calls for the elimination of 1,500 to 2,000 positions, or up to 25% of the workforce in the company's global headquarters.
Danone intends to reduce its structural costs by 20% and aims for savings of € 1 billion by 2023.
Management has set itself the objective of an operating margin of between 15% and 20% in the medium term, and above 15% from 2022.
Finally, it reiterates its guidance for this year, namely a current operating margin of 14% and free cash flow of 1.80 billion euros.
Our recommendation for
DANONE: KEEP
These structuring announcements for the future of the group do not allow
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