Finnish food group HKScan is to make cuts to its domestic business after warning that its first-quarter profits will be lower than those posted last year.
HKScan said “roughly 200 person-years” would be cut from its HK Ruokatalo operations in Finland after the company decided to “markedly scale back” the production it outsources.
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News of the cuts came as HKScan warned that its first-quarter earnings would “fall clearly short” of its 2009 numbers amid “stepped-up” competition in the Finnish poultry sector.
According to HKScan CEO Matti Perkonoja, the planned measures within HK Ruokatalo’s must be brought forward if long-term profitability targets are to be met.
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By GlobalData
