UPDATE: Fonterra top brass on notice from farmers as 523 jobs go in shake-up

Thu, 16 Jul 2015

(Adds farmer comment, updates share price) By Fiona Rotherham July 16 (BusinessDesk) - Federated Farmers says top management should be leaving Fonterra Cooperative Group if results don't start improving in the next couple of years. The comments, from Fed Farmers dairy chair Andrew Hoggard were in response to the confirmation today by the world’s largest dairy exporter that it will cut 523 jobs to save up to $60 a million a year on its payroll in the first swathe of a major review of the business. Hoggard said he hoped the job losses...

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