Goodman Fielder restructure leaves Kiwi casualties—UPDATED

Australasian food giant Goodman Fielder is apparently cutting staff from its New Zealand operations. StopPress understands 14 marketing roles have been cut, and those staff found out this morning.  This afternoon director of corporate affairs Ian Greenshields refuted this, saying the company was still working through a consultation process.

Goodman Fielder reported an annual loss of $166.7 million in the 12 months ended June 30, on the back of a $300 million write-down in the value of its baking division. Last week Goodman Fielder said it was hoping to save $15 million a year by restructuring its New Zealand operations.

The company has struggled to maintain profitability in the face of rising ingredient costs, and a competitive retail environment forcing significant discounting.

The company, which operates brands like Vogel’s, Freyas, Kiwi Bacon, Puhoi Valley, Meadowfresh and many others, told Fairfax last week it was consolidating staff across its three retail divisions which service the country’s supermarkets, corner dairies, convenience stores and hospitality businesses.  The Australasian company had been consulting with staff here for several weeks.

It is unknown how this will impact on ad agency Mojo, which has Goodman Fielder on their books.

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