JBT Corp has blamed a drop in demand for its decision is to cut 115 jobs in its food processing division and shift some operations out of Europe in a bid to make annual savings of US$9m by the end of next year.
FoodProductionDaily.com caught up with Ishida Europe’s Torsten Giese at the Emballage show in Paris last week to discover his take on how the sector is recovering from the global recession and how this is informing development trends.
Cargill has reported a huge drop in earnings during the fourth quarter of fiscal 2009 compared to a year earlier, but said that it had entered the economic downturn with several effective strategies in place.
Food firms looking to trim costs in the recession must be sure to complete due diligence in their ingredient sourcing and not compromise the long-term image of their brands by reduced quality, warns a food chain consultant.
New consumer research indicates shoppers are falling back on frozen food to keep bellies full through the recession, according to the Food and Drink Federation – and that, in turn, can stimulate new product development geared to pressing needs.
The American Peanut Council is expecting that the current economic climate will prompt an increase in demand for peanuts as manufacturers look to them as a potential replacement for more expensive tree nuts.