A spokesman for the firm told FoodManufacture.co.uk: “Greencore can confirm that it is simplifying its corporate structure in the UK into two divisions. The new structure will deliver improved efficiency and a better ability to respond to its customers’ needs.
“As a result of these changes, Greencore is now in consultation with a number of employees. The company is unable to provide any further comment until this process has been concluded.”
At the end of August, the manufacturer tried to reassure investors, after its share price dropped by more than 7.5% in one week; amounting to a 41% fall over the previous year.
Tried to reassure investors
Commenting at the time, Greencore said: “The group is not aware of any developments since the release of its third-quarter trading statement on July 27 that changes the outlook contained in that statement.”
In third-quarter results, the company recorded sales of £636.5M in the 13 weeks to June 30 2017, a 76.6% growth from the same time last year.
At the end of July, Greencore confirmed its plan to shed up to 400 jobs at its Evercreech factory in Somerset. The decision followed plans to close the site.
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