The rise and rise of raw material costs around the world are creating waves even among European companies whose purchasing power is bolstered by a strong Euro. Henkel KGaG, the German maker of Persil detergent, is blaming commodity price rises for plans to shed up to 3,000 jobs, or nearly 6% of its total workforce.
In the UK, with less in the way of currency protection, making savings across organisations is becoming the only conversation business wants to have – nobody wants job cuts, which puts the spotlight on purchasing practices and driving efficiencies in the supply chain.
