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Topic # 240557 13-Sep-2018 14:19
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So, they post a $200M loss. Also annouced is the fact *6000* staff earn over 100K. Seriously!?

 

No wonder dairy prices are insane here.

 

 


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  Reply # 2090097 13-Sep-2018 14:26
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6,000 out of more than 24,000.

 

Average salary (2017) was $50k.

 

Ummm - so what?




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  Reply # 2090116 13-Sep-2018 14:51
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Fred99:

 

6,000 out of more than 24,000.

 

Average salary (2017) was $50k.

 

Ummm - so what?

 

 

So what? They posted a 200M loss. The price of Dairy in NZ is stupidly high. That's what!

 

Over 100K could mean anything. 

 

 


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  Reply # 2090117 13-Sep-2018 14:51
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I find Weetbix plus some of the alternative milk products nicer than NZ trim milk, and then there is Aussie UHT milk, if you don't want to give Fonterra any more money..

 

I guess if it were not for the FTA with Australia the fat cat dairy farmers, and Fonterra, would have put pressure on the NZ Govt. to ban the import of UHT & substitute milk products.

 

I have about the same amount of love for Fonterra as I do for Windows 10.


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  Reply # 2090122 13-Sep-2018 15:00
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Maybe Ritchie might need a pay cut back from doing the ads

John




Ex JohnR VodafoneNZ 17 years 4 days



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  Reply # 2090124 13-Sep-2018 15:02
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Linux: Maybe Ritchie might need a pay cut back from doing the ads

John

 

Many many things could be made more efficient.

 

 


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  Reply # 2090126 13-Sep-2018 15:06
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networkn:

 

Fred99:

 

6,000 out of more than 24,000.

 

Average salary (2017) was $50k.

 

Ummm - so what?

 

 

So what? They posted a 200M loss. The price of Dairy in NZ is stupidly high. That's what!

 

Over 100K could mean anything. 

 

 

 

 

Yep, New Zealand consumers, 'take one for the team' & help out poor Fonterra & the corporate dairy farmers...


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  Reply # 2090127 13-Sep-2018 15:07
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I've worked for a Fonterra contractor, and it's no surprise they have made a $200m loss, their obsessive health and safety just eats through money like you would not believe, Most jobs I was involved with the quoted hours were doubled in order to comply with their paperwork requirements.

 

A lot of companies that have been bidding for their work have simply walked away as it's just not worth the time and hassle, the only companies left bidding are the ones that dish out the heavy price tags.....

 

 


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  Reply # 2090136 13-Sep-2018 15:13
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networkn:

 

Fred99:

 

6,000 out of more than 24,000.

 

Average salary (2017) was $50k.

 

Ummm - so what?

 

 

So what? They posted a 200M loss. The price of Dairy in NZ is stupidly high. That's what!

 

Over 100K could mean anything. 

 

 

 

 

No it couldn't - not in context of an average salary of $50k, presuming that's a Fonterra average.

 

There's nothing surprising at all that 25% of employees in such an enterprise would earn over $100k.


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  Reply # 2090138 13-Sep-2018 15:13
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This is a large loss, however its important to read their documents to understand why the loss is high. Its easy to point the finger and say these staff earn too much, but thats not particularly constructive criticism. 

 

Fonterra is a large co-operative. It is entirely possible that it may make a large profit next financial year. 

 

They would have given a reason as to why they made a large loss. They may even mention that they expect to make a loss next fin year. It is not unusual.

 

Also the world dairy price and price for milk solids often effects them a lot. So if the price has fallen, and they were expecting to have higher expenses it would explain some of the loss.

 

Personally im not a farmer or a shareholder of the co-op. Nor have I read a recent prospectus. So do some research, before investing.






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  Reply # 2090145 13-Sep-2018 15:20
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networkn:

 

 Also annouced is the fact *6000* staff earn over 100K. Seriously!?

 

 

 

 

 

 

What about local councils, where  apparently over 4000 earn over $100k. Not sure on the total number of council workers that covers, but that sounds  alot. But maybe 100k for a salary isn't considered much these days, considering the LVR needed to buy a house. For Auckland a 100k salary, that is an LVR of 1/10 which is low. 


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  Reply # 2090152 13-Sep-2018 15:33
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networkn:

Fred99:


6,000 out of more than 24,000.


Average salary (2017) was $50k.


Ummm - so what?



So what? They posted a 200M loss. The price of Dairy in NZ is stupidly high. That's what!


Over 100K could mean anything. 


 



I don't really get what your fixation is with salaries being above 100k. I'd make an assumption that you earn significantly more than that as well. Do you not think that employees should earn a market income?

Do you really think that if they had people earning less then they would drop milk prices? It doesn't work that way on commodities.

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  Reply # 2090162 13-Sep-2018 15:45
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I am surprised any small or medium business do anything for them based on the 60 - 90 day terms.





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  Reply # 2090166 13-Sep-2018 15:51
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gregmcc:

 

their obsessive health and safety just eats through money like you would not believe, Most jobs I was involved with the quoted hours were doubled in order to comply with their paperwork requirements.

 

 

 

 

 

 

 

 

IMO health and safety , plus compliance costs in NZ are simply out of control. My parents run a small food based sideline business, but likely closing it down in the near future because all the costs involved will outweigh the income from it. It is a sad state, because it means we end up with a lot more imported stuff, where we don't really know if it has been made to the same standards as in NZ.


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  Reply # 2090168 13-Sep-2018 15:54
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I hope people are blaming Fonterra, not their staff!

 

"Here's a job for 100k"

 

"Thank you, but I'll take 50k, you can keep the rest"





Swype on iOS is detrimental to accurate typing. Apologies in advance.


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  Reply # 2090175 13-Sep-2018 16:02
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amiga500:

 

I find Weetbix plus some of the alternative milk products nicer than NZ trim milk, and then there is Aussie UHT milk, if you don't want to give Fonterra any more money..

 

 

Of course remembering Fonterra are a huge player in the Australian market so buying Australian UHT milk without knowing it's exact source may not be much of a protest vote!

 

 


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