Danisco Cuts Jobs in EU, US

Copenhagen-based food producer Danisco will lay off 200 employees due to lower demand.

The company saw operating profit in fiscal year 2008/09 of around 1.15 billion Danish crowns ($194.7 million) instead of the previous guidance of 1.3 billion. Revenues are seen at 13 billion crowns instead of 13.3 billion.

Responding to lower prices and volume losses to new market entrants, the company will shutter one plant and reduce production at facilities in China.

Danisco will cut 200 jobs in western Europe and North America, and freeze salaries in 2009.