Due to the corona crisis, Danone sells far fewer bottles of spring water to the catering industry and therefore wants to save costs.
The French food manufacturer is firing up to 2,000 employees to boost profitability, the company reports in a press release on Monday.
The maker of dairy and yogurt products, baby food and Evian mineral water, among other things, will cut 400 to 500 jobs in France.
The rest of the jobs will be lost elsewhere.
About a quarter of the jobs at the head office in Paris will disappear.
Worldwide, Danone employs approximately 100,000 employees.
It is unclear whether jobs will also be lost in the Netherlands.
Annual costs should be reduced by EUR 1 billion by 2023 with a reduction in administrative expenditure and cheaper procurement.
The group expects the measures to cost approximately 1.4 billion euros.
In addition, the organizational structure of the company will be set up differently.
There will be a much greater focus on geographic areas.
Between January and September, Danone had a turnover of almost 18 billion euros, almost 5.4 percent less than in the same period a year earlier.