Best of BusinessDesk: Fonterra isn't just looking to trim fat

Fonterra is looking to cut costs by $1b over seven years. (Image: Fonterra)

Tue, 02 Jan 2024

This story by Rebecca Howard, published in September, was a popular read on BusinessDesk in 2023.Stripping out $1 billion in costs goes way beyond trimming the fat and might be better described as cutting to the bone. In September, Fonterra's chief executive Miles Hurrell told farmer shareholders the co-op needed to reduce costs to hit short-term and long-term targets. “Since late last year, we have been developing plans with an aim to reduce costs across the co-op by about $1 billion over the seven years to 2030,” Hurrell said....

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