6,000 out of more than 24,000.

Average salary (2017) was $50k.

Ummm - so what?

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 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.

Linux: Maybe Ritchie might need a pay cut back from doing the ads

John

Many many things could be made more efficient.

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...

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.....

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.

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.

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. 

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 am surprised any small or medium business do anything for them based on the 60 - 90 day terms.

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.

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"

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!