Ridley Announces Implementation of New Organisational Structure

  • Nov 11, 2019 AEDT
  • Team Kalkine

Ridley Corporation Limited (ASX: RIC), a producer of animal nutrients, announced that it will implement a new organisational structure and further mill rationalisation with implications for Ridley’s FY20 results.

  • The RIC Board approved an internal restructure plan which will result in a significant reduction in staffing levels;
  • A leaner, flatter and simplified reporting structure has been proposed, to eliminate ~$5 million of annualised costs from the organisation;
  • The total cost of restructure in FY20 is ~$3 million.

At AEST 1:07PM, the stock was trading at $1.16 per share.


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