PARIS, Feb 17 (Reuters) - French glass bottle maker Verallia said on Tuesday it has started a business review that may result in up to 360 job cuts across several European countries, via a possible
Verallia Plans Up to 360 Job Cuts Amid Declining Glass Bottle Demand
Verallia's Business Review and Job Cuts
PARIS, Feb 17 (Reuters) - French glass bottle maker Verallia said on Tuesday it has started a business review that may result in up to 360 job cuts across several European countries, via a possible site closure and the shutdown of furnaces.
Reasons for Job Cuts
One site in Germany could be closed and two furnaces, in France and Britain, could be shut down as part of an effort to adjust production capacity in Europe, the company said in a statement.
Impact on Production Facilities
Verallia, which makes bottles for champagne and cognac among other beverages, attributed the move to subdued demand for glass bottles, particularly in Germany. The company also said it planned to restart a furnace in Leeds, England.
Future Outlook
"This decline in volumes is the result of weaker demand linked to reduced alcohol consumption in Europe (-4% since 2019), combined with increased pressure on certain export flows for our customers, particularly to the United States and Asia," the group said.
Verallia will report its annual results on February 24.
(Reporting by Gianluca Lo Nostro; Editing by Benoit Van Overstraeten)
