Ridley Corporation (ASX:RIC) to reduce staff levels

Company News

by Rachael Jones

Ridley Corporation (ASX:RIC) says there will be a new organisational restructure with implications for their financial year 2020.

There will be significant reduction in staffing levels throughout the organisation starting this month.

The move comes after Ridley took on a new Chief Executive Officer and Managing Director Quinton Hildebrand.

Ridley also wishes to advise that the construction of the new feedmill at Wellsford, Bendigo in Central Victoria is progressing well and remains on target for completion in the last quarter of the current financial year.

Shares in Ridley Corporation (ASX:RIC) are trading 0.9 per cent lower at $1.15.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.