Danisco Issues Profit Warning, Cuts Jobs, Curtails Xylitol Production

Danisco has lowered its fiscal full-year earnings forecast and plans to implement cost-cutting initiatives including a salary freeze, hiring restrictions, and a total of 200 job cuts in North America and Western Europe. The company cites a slowdown in most sectors, especially in its Enablers and Sweeteners businesses, and unfavorable currency exchange rates. Danisco says it has lowered its full-year profits expectations from DKK950 million ($160 million) to breakeven. The company is due to report third-quarter results on March 18. “We believe this [sector...

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