Australian Manufacturing Workers' Union


AMWU: Fonterra profit announcement sign of "greed"

26 September, 2022 – AMWU Tasmania State Secretary John Short has hit out at dairy corporation Fonterra after it announced a spike in profits despite keeping workers' wages low.

“Fonterra’s continued refusal to deliver a decent pay increase to their employees is purely driven by greed and the desire for profit," Short said.

"On Thursday Fonterra announced a 16% increase in profits over the last year in Australia, as well as a 43% increase in normalised earnings before interest and taxes. On top of that, Fonterra have taken their Australian business off the market. It was a clear sign that Fonterra’s continued suppression of wage growth is profit-driven.

"It is an absolute disgrace that skilled workers are expected to sell their knowledge and skills to make these huge profits without being recognised accordingly.

"In a time where the cost of living is soaring, skilled workers are being offered less, making their talent and skill an undervalued resource that multi-national companies such as Fonterra take advantage of. It’s time for Fonterra to recognise their workforce and stop devaluing their skills for further profits.

"The AMWU calls on Fonterra to deliver sustainable cost of living wage increases and stop ignoring where their profits are derived from: the factory floor."

Media contact: Alex McKinnon 0419 286 145

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