Nestle Hellas Slams Reports About Wage Cuts, Continues To Invest in Greece

Nestle Hellas on Tuesday categorically dismissed press reports alleging that the company requested more relaxed regulations in workers' dismissals during a meeting with Development Minister Costis Hatzidakis.

In a statement, Nestle Hellas said that:

    "neither Mr. Raymond Franke nor any other representative of our company ever made such a request in their recommendations to improving business environment in Greece".

Nestle Hellas said it is its strategic decision to remain in Greece and continue investing in the country through its factories. The company operates four factories in the country with a workforce of more than 1,000 permanent workers and despite adverse business and economic environment prevailing in the country it did not made in reductions in personnel or wages. Nestle Hellas plans to invest 8.0 million Euros to modernize its factories and develop new products.