Job losses as dairy group merges

- Last updated on GMT

Related tags: Dairy product, Milk, Dairy

Dairy Foods, a New Zealand consumer dairy products company, said it
will merge its food and beverages divisions as part of a major
restructuring of the company. Some of the company's 900 staff will
be made redundant but the extent of the job losses is yet to be
determined, Dairy Foods said in a statement on Thursday.

Dairy Foods, a New Zealand consumer dairy products company, said it will merge its food and beverages divisions as part of a major restructuring of the company.

Some of the company's 900 staff will be made redundant but the extent of the job losses is yet to be determined, Dairy Foods said in a statement on Thursday.

"We are moving to a structure that reflects the fact that New Zealand Dairy Foods operates as fast moving consumer goods company,"​ said Chief Executive Peter McClure.

He said the company's current structure, which was appropriate when Dairy Foods was part of the New Zealand Dairy Group, duplicates a number of functions within the organization and slows the company's ability to respond to customer needs.

Rank Group, a company owned by billionaire businessman Graeme Hart, bought Dairy Foods for NZ$245 million (€117m) in May. Hart is a major shareholder of Australian food ingredients company Burns Philp.

Related topics: Manufacturers

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