Amcor set to slash 60 jobs
Jan 6, 2009
Packaging giant Amcor is planning to cut 60 management positions and may shed another 100 jobs if it decides to close one of its plants in western Sydney, according to reports this week.
The company’s medium-sized flexibles plant in Regents Park is believed to be on the chopping block, with the board expected to deliver a decision shortly on whether it will shut the facility, a move which would effectively eliminate Amcor from the flexibles market.
Amcor has suffered a series of setbacks in the Asia-Pacific region recently, including the loss of one of its staple clients, cereal manufacturer Kellogg’s, to NZ-based Carter Holt Harvey.
The company is also facing stiff competition in the flexibles market from Asia, whilst local players Visy and Carter Holt Harvey have taken a bite out of their corrugated box market share. Its fibre packaging operations have also taken a hit, with the company announcing in October that it expected a reduction in earnings over the next six months.
Shares in Amcor have fallen 21 per cent over the past eight months.
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