AG Barr to cut about 10 pct of workforce, on track to cut sugar content
AG Barr, the maker of popular Scottish soft drink Irn-Bru, said it would lay off about 10% of its workforce as part of a restructuring.
The company said it was planning to implement most of the restructuring before the end of the financial year, and about 90 jobs were likely to be cut in commercial and supply chain functions.
The job cuts come at a time when the company and its rivals including Britvic face a slowdown in demand from increasingly calorie-conscious consumers and an impending UK government tax on sugar-sweetened fizzy drinks.
AG Barr said today it was on track to reduce or eliminate sugar from more than two-thirds of its product portfolio by 2018.
The company, which sells Tizer, Rubicon, and Strathmore water, said it was likely to take a charge of about £4m for the year from the restructuring.
It said it would record an ongoing annual benefit of about £3m.