Shares in Cuisine de France owner Aryzta slid nearly 7% yesterday after the company reneged on assurances it wouldn’t incur any restructuring costs this year and said around 2% of its global workforce may be cut as part of ongoing cost-cutting initiatives.

Shares in Cuisine de France owner, Aryzta fell by almost 10% yesterday — making it one of the day’s worst performing European stocks — after the group forecast “erratic” revenue performance for the next 18 months.