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German food company Bayerische Landesgesellschaft has announced that it will lay off about 5,300 people over the next year, following a decision to cut its workforce by 7 percent in the UK.
The company, which has over 2,000 employees in Germany, has been in talks with the British government to keep its UK-based workforce.
Bayerischelande Gesellschaftsbild, or BayerischeLandesGesellschaften, is one of Germany’s largest food companies, employing more than 7,000 people.
The firm said in a statement on Monday that it would slash jobs in its food business in the coming months, adding that the cuts will come from a combination of the restructuring of its European business, as well as a reduction in staff numbers and an increase in the number of employees who will be relocated.
The cuts are part of a broader restructuring, Bayerische Landsgesellscheitsbild said, as the company’s business and strategic priorities change in the future.
“In light of the new economic climate, Bayerisglesellschaftergendarmes, which is a part of the Bayerische Group, and which is headed by the CEO and co-founder, is taking the decision to reduce the workforce by the same amount that we had previously announced in December,” Bayerische landsgesellschaben, or board, said in the statement.
“The decision to make this restructuring was driven by the company and its customers needs and in light of that we decided to accelerate the process.”
In an earlier statement, Bayerischer LandesGestalt, or the board, described the layoffs as “the right thing to do for our company, its shareholders, and its employees.”
Bayerischelandsgesellsches, or land management, has had to lay off 1,000 workers since the Brexit vote and is preparing to lay-off another 1,400 people as part of its restructuring, according to the company.
Bayerischerlandesgesch, or Landes Gesellschwerden, has said that it plans to spend 1.5 billion euros ($1.9 billion) to bring its business back online by 2021.
Bayerischlandsgeschwerdensbild is the parent company of BASF, the world’s largest grain producer.