Fonterra isn't just looking to trim fat

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

Thu, 21 Sep 2023

Stripping out $1 billion in costs goes way beyond trimming the fat and might be better described as cutting to the bone.Earlier this month, Fonterra's chief executive Miles Hurrell told farmer shareholders the co-op needed to reduce costs to hit short-term and long-term targets.The dairy co-op is expected to shed light on its master plan on Thursday.“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. Let’s be...

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