Views Article – Sharenet Wealth

Africa, News

South Africa’s Tiger Brands targeting cost savings of $32 mln

(Corrects first paragraph to show that jobs have already been cut)

JOHANNESBURG, Nov 20 (Reuters) – Tiger Brands, South Africa’s biggest food producer, is targeting cost savings of 500 million rand ($32.5 million) in the 2021 financial year and has cut 400 jobs across the business, Chief Executive Noel Doyle said on Friday.

The owner of popular food brands Jungle Oats and Tastic rice has also concluded a sale agreement for eight non-core personal care brands, among them Gill shampoo and Lemon Lite facial cream, Doyle told reporters on a call. ($1 = 15.3849 rand) (Reporting by Nqobile Dludla Editing by David Goodman )

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