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.