Premier Foods to Cut 600 Staff
Premier Foods to shed about 600 staff to cut costs Premier Foods has struggled despite owning major brands including Mr Kipling.
Premier Foods has announced plans to sell off non-core businesses and cut about 600 staff in an attempt to double cost savings to £40m a year.
The firm behind brands including Paxo and Mr Kipling is to make about 5% of its 12,000 workforce redundant.
Its current cost-saving target of £20m is to be doubled by 2013, as it expects 2011’s results to be at the “lower end” of market expectations
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