9 Jul 2013

Fonterra corporate jobs for the chop

6:52 pm on 9 July 2013

Fonterra is to shed 300 corporate jobs. The dairy cooperative says a review shows there is a duplication of roles and layers of management that can be reduced.

The jobs to go are from offices in Auckland and Hamilton following the review which began in May this year. About 50 of the disestablished roles are vacant due to a staff freeze imposed in February.

Fonterra chief executive officer Theo Spierings said it is important that staff are working on the right things and money is spent on the right priorities.

Mr Spierings said Fonterra is on a growth drive and the retrenchment would save it $65 million a year, most of which would be reinvested in the company.

The affected employees would work until October and the company is "fully supporting them" including with career advice.

The dairy giant employs 17,000 people globally.