Fonterra to cut 523 jobs to save up to $60 million in first step of major review

Thu, 16 Jul 2015

By Fiona Rotherham July 16 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, has confirmed it will cut 523 jobs to save up to $60 a million a year on its salary bill in the first swathe of a major review of the business. The Auckland-based company said it had completed consultation with affected staff in its central procurement, finance, information services, human resources, strategy, and legal teams, and they will leave in September. The redundancies will incur a one-off cost of between $12 million and $15...

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