Companies
How 550 jobs in Limerick are at risk from Nestlé’s slump in China
While the news of the Wyeth exit came as a shock, closer analysis suggests it should not have been that much of a surprise
In early 2020, François-Xavier Roger, the chief financial officer at Nestlé, jumped on a call with analysts to talk through the Swiss food giant’s financial results for the previous year.
Despite a subdued year for its infant nutrition arm, the Nestlé boss was pleased to announce that Illuma, the company’s flagship baby formula, had surpassed €1 billion in sales in China. “Illuma is now a member of our billionaire brands,” Roger said.
Yet behind the ...
