American food container group Tupperware has begun the closure of its 56-year-old factory in Thebes. This is “a difficult decision, driven by the need to make our supply chain work more efficiently.” a Tupperware representative marks only “K”., emphasizing that the group does not leave the Greek market. Tupperware will maintain its warehousing and distribution activities in Greece while continuing to sell products through its network of distributors and merchants. The Greek subsidiary of Tupperware Hellas was founded in 1964, and three years later, in 1967, it commissioned a plant in Thebes.

But what led to the shutdown of the unit? Tupperware’s global business transformation strategy and macroeconomic conditions. “Tupperware is in the midst of a global corporate transformation focused on strengthening operations, teams, processes and systems. And with the goal of becoming a company that will be even stronger for at least another 77 years (ps: founded 77 years ago). As we optimize our business structures for sustainable future growth and navigate the current macroeconomic environment, we are making strategic – and sometimes difficult – decisions to make our supply chain operations more efficient.” groups in the USA. According to the General Confederation of Hellenic Workers (GSEE), the company is urging workers to “sign a letter of resignation of their own free will, receiving little more than legal compensation, in order to complete the lockout by mid-April without breaking the law. which provides for a certain percentage of layoffs per month. About 150 workers are losing their jobs,” he notes.

For its part, the company supports in “K” how it ensures that “all affected Tupperware employees receive the support they need while we strengthen our distribution channels in the region to support our customers, partners, distributors and sales staff.”

“Greece remains an important market for Tupperware. We look forward to continuing our great history in the country while maintaining our corporate presence and warehousing activities,” a company spokesperson said.

In fiscal year 2021, Tupperware Hellas increased its turnover by 11% annually to €45.3 million and its earnings before interest and taxes more than doubled to around €2 million. Net income almost tripled to 1.3 million euros from 470,200 euros. However, the company shows a high cost of sales of 37.6 million euros, representing more than 80% of turnover. Total liabilities and equity are approximately EUR 10.3 million and EUR 8 million, respectively. At the group level, in 2022, global business sales fell 18% to €1.2bn, with adjusted operating income of €118m, while posting a loss of €27.5m.