Fonterra builds off jobs

New Zealand dairy cooperative Fonterra announces today that it was planning a loss of jobs. The necessary growth of the company cannot be achieved due to global falling milk prices and a worldwide slowdown of demand for milk products. The revenue of the largest exporter of dairy products flow slackened since China's demand for infant food and other dairy products is declining. That the company must adapt, says the CEO Theo Spierings told the press.
The boss left open how many jobs are deleted. The reduction is a measure in a total package, which is to be transposed in the coming months.
Fonterra profits have fallen in the last two years in a very volatile market. There are currently prices at the lowest level for almost six years after they had a record high in the year 2014. Spierings had expressed last month told Reuters that he expects initially no change in milk prices and that the cooperative wishes to restrict its efforts for further growth if demand fails to start.

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