New Zealand dairy co-operative Fonterra will cut up to 300 administrative jobs in New Zealand and reinvest the savings in growth markets, under an expansion strategy to enable the world’s biggest dairy exporter to compete with global brands.
The country’s biggest company on Wednesday said the proposed cuts would free up NZ$65 million (HK$431.8 million) a year which would be reinvested into growth projects. It employs 17,000 staff around the world.
“Fonterra has a clear strategy to drive growth,” chief executive Theo Spierings said.
via Business feed http://www.scmp.com/business/companies/article/1227393/nzs-fonterra-cut-300-jobs
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