Nestlé hopes to cut costs by 287m

06 May 1999

Nestlé hopes to cut costs by £287m

NESTLÉ, the worlds biggest consumer food company, plans to cut SFr700 million (£287m) off costs in the current year.

Peter Brabeck, chief executive, said the move was an attempt to improve industrial performance.

Mr Brabeck has been under attack for failing to meet his 4% underlying growth target in his first full year as chief executive.

Nestle reported a 2.7% fall in first-quarter sales to SFr16.7bn.

• Financial Times 06/05/99 page 30