Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Beef Jerky Manufacturer Confirms Job Losses

Beef Jerky Manufacturer Confirms Job Losses

South Auckland beef jerky manufacturer, Jack Links New Zealand Ltd, confirmed today it was making approximately 100 employees redundant.

“As a direct result of the strong New Zealand dollar, we have lost a major customer in the United States which has forced us to cease our bulk manufacturing business,” chief executive John Corner said.

“Unfortunately, that means we have no choice but to let people go. However, we will be retaining a staff of around 50 to continue our retail business, which is expanding internationally.”

Mr Corner said that when the company started making beef jerky almost four years ago, the New Zealand dollar was at 40c to the US dollar.

“Now it is sitting at 70c and has been for some time which makes it impossible for us to compete with manufacturers in South America.

“Our major customer in the United States, Link Snacks International, advised us last week that they will not continue buying our jerky at significantly higher prices than they pay in Brazil. That decision took effect immediately.”

Mr Corner said staff would receive redundancy payments in line with their contracts.

“This is a sad day for our company and our employees, who have been very loyal and hard-working.”

Mr Corner said that, while bulk manufacturing accounted for most of Jack Links New Zealand’s production, the retail side of its business was growing, now making up a third of total turnover.

“We are confident in the continuing growth of the retail business but unfortunately that cannot support our current total staff numbers.”

Jack Links’ retail products are now sold throughout New Zealand as well as several other countries around the world.

“We are also currently negotiating to supply several large retailers in Asia and are about to become licensed to supply the European market,” Mr Corner said.

- ends -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news