The Finnish group is looking at potentially consolidating “all production” of its Bakery Baltics division to a bakery in Ogre in central Latvia.
The group currently operates bakeries in Ogre as well as Kaunas in Lithuania.
The transition would involve an investment of €18m ($19.2m) for an “expanded warehouse for frozen and ambient products, new picking processes and modernised production capabilities”.
The changes would affect a “maximum of 185 employees” in Kaunas which could lead to the termination of employment. To run new operations in Ogre, Fazer said it would need to recruit up to 60 additional employees in Latvia.
By pakistanspeaks.com
Tesla reported a 9% drop in revenue in the first quarter, the steepest year-over-year decline since 2012.
As of Tuesday’s close, the company’s stock price is down more than 40% this year as Tesla faces increased competition across the globe.
Sales growth across EVs is slowing, and Tesla and key rivals have been slashing EV prices, on and off for months, to try to spur demand.
By pakistanspeaks.com
