Coffee giant Nespresso's º£½ÇÊÓƵ division eliminated over 200 positions whilst shuttering locations nationwide during 2024, according to confirmation received.
The company cut its workforce from 716 to 499 throughout its most recent financial year whilst closing 11 facilities, as reported by .
Fresh accounts lodged with Companies House for 2024 reveal Nespresso stated the restructuring aimed to streamline operations and "adapt to changing shopping preferences for immersive brand experiences".
The filings have also disclosed that Nespresso's revenue climbed during the year from £338.6m to £340.7m whilst pre-tax profits similarly edged upward from £14m to £15m.
This growth in pre-tax profits represents the 12th consecutive annual increase for this measure, whilst revenue has maintained its streak of year-on-year rises for every period where records exist on Companies House.
The York-headquartered operation's domestic º£½ÇÊÓƵ revenue rose in 2024 from £306.1m to £309.9m, though international sales declined from £32.5m to £30.8m.
The unit distributed a dividend of £10.3m to its parent organisation in 2024, marginally down from the £11m disbursed in 2023.
Nespresso concerned over indirect taxes
A board-approved statement declared: "In 2024 the company saw a one per cent increase in sales driven by the ongoing success of the Vertuo system in its business-to-consumer division coupled with a very strong growth in its business-to-business activities."
The company added: "Nespresso also entered the on-the-go coffee market with the launch of a new coffee shop concept titled 'The Nespresso Bar' at a location close to Liverpool Street station in central London."
Regarding its outlook, the firm stated: "The external environment remains extremely challenging.
"Inflationary pressures, increased costs, the impacts of climate change and a range of supply chain complexities and geo political uncertainties will continue to put pressure on the company.
"Increasing commodity costs and aspects such as rising indirect taxes including extended producer responsibility costs will be key challenges for the whole industry.
"The company prides itself on being flexible and adaptable to the external context in order to continue providing high quality and good value products to the consumer."
Nespresso operates from its Swiss headquarters, having been established in 1986.
