Danone to cut 900 jobs in EU

City A.M. Reporter
DANONE said yesterday it plans to axe around 900 jobs to cope with the downturn in southern Europe that is hurting its core dairy business and aims to return to more profitable growth next year.

Danone yesterday reported sales of €20.1bn (£17.3bn) in 2012, up 5.4 per cent from a year earlier. It warned margins would fall again this year in the face of weak European demand.