Nestle sheds jobs in Singapore
Nestle, the world’s largest food and beverage company, has retrenched a number of staff in its Singapore office.
In a statement to Singapore broadcaster Channel NewsAsia, Nestle indicated that “approximately 3 per cent of its 1,400 staff in Singapore” was affected by the layoffs.
The finance department was reportedly the biggest casualty in the consolidation, with nearly 10 out of its approximately 20 staff given pink slips on Wednesday.
Nestle has brought in an outplacement agency to support affected employees.
“We are going beyond advisory assistance to make practicable efforts to place affected employees in their next job - every affected employee will receive outplacement support to help find new employment,” said a company spokesperson
Nestle has been a business presence in Singapore for more than a century, having established manufacturing and research facilities here in addition to its corporate office in Changi Business Park.
The layoffs in Singapore have occurred on the heels of a global portfolio consolidation. Recent reports have suggested that the company is looking to sell its $900 million US confectionary business, which includes Crunch and Butterfinger chocolates.