Economist Peter Fraser draws a ruler over Fonterra’s performance.
Fonterra has confirmed there will be job losses as it heads towards reporting a massive loss at the end of the month.
The extent of the cuts is unclear, but a number of sources have confirmed to Stuff they have heard about the losses.
It is understood middle management positions are more likely to go than processing plant workers.
A Fonterra spokeswoman acknowledged there would be cuts but would not say how many. “We have been open with employees that with a new strategy comes a new structure. Our new strategy is about being more focused, prioritising New Zealand milk, and being closer to our customers.