Fonterra freezes salaries for a quarter of its workforce

Wed, 04 Sep 2019

By Rebecca Howard Sept. 4 (BusinessDesk) - Fonterra Dairy Cooperative has frozen salaries for about a quarter of its workforce earning more than $100,000 a year. "Some tough calls are still needed to put us on the right path," chief executive Miles Hurrell said. A remuneration review will still occur for salaried employees earning under that level and there’s no impact on waged employees who are part of a collective agreement, he said. Fonterra is currently undergoing a full strategic review after reporting its first loss last year. I...

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