Nestlé’s massive wage hikes in Prievidza
Nestlé Slovensko, the largest food producer and distributor in Slovakia, improved its net profit 3% to €9.8m last year, and its sales rose 2% to €167.1m. Its production plant in Prievidza posted a 5% drop in revenues to €61.7m. Its labor costs rose 10% last year, as it increased wages by 26% over the past two years. This year, it plans on another 9.5% wage hike. At the end of 2017 it launched production on five old lines brought from Austria. Its production portfolio expanded by 120 to 600 products.