Fonterra confirms job cuts as part of review

Dairy exporting giant Fonterra Co-operative Group has confirmed that it has cut 750 jobs so far as part of its ongoing review to cuts costs and remain competitive.

In July, Fonterra cut 523 jobs and has since cut a further 227 positions.

Fonterra Chief Executive Theo Spierings said the purpose of the review was to ensure that Fonterra remains well positioned to compete in a rapidly changing global dairy market. The review is an on-going process that looks at the entire business to identify potential areas where the Fonterra can find more efficiencies and improve future performance.

Mr Spierings said that one-off savings generated by changes the Co-operative is making during the business review have enabled the Co-operative to support our farmers during challenging market conditions.

Fonterra to continue to “fine-tune” its organisation

 “We have great people, but we have to make tough decisions to ensure Fonterra remains competitive in this environment. We will continue to fine-tune our organisation to ensure we best support the initiatives identified by our business review,” Mr Spierings said.

Mr Spierings concluded, “Our business is looking to the future with the momentum, energy and solid plans needed to keep improving performance.”