Chief executive Rod Quin said he was not going to speculate on how many redundancies there would be, or what positions might be affected, until the review was complete and affected staff were consulted and given an opportunity to provide feedback on any proposed roles under review.
The review is scheduled to occur over two rounds, with the first round this month and the second in February 2016.
Quin said that Westland was also continuing its programme of efficiency gains and a cost-saving drive.
Some $15 million was trimmed off the company’s budget in the last financial year, but Quin said there would be no let-up and that the microscope would be on all costs, as Westland responded to the volatile international dairy market.
“The international marketplace for dairy is in a new world era,” Quin said, “with the removal of the European Union milk quotas and softer demand from key markets. The resulting reduction in prices is flowing directly into lower shareholder payouts, which are, and are forecast to be, below the cost of owning and operating a dairy farm in New Zealand.
“A reduction in costs is required to realign our cost structure with the new reality of lower international prices and what is now a much more competitive NZ dairy industry.”
Westland would not be making any further statement until any impacted staff were informed, Quin said.
