Tiger Brokers

Market Chatter: Treasury Wine Estates Axes 170 Jobs in Cost-Cutting Drive

MT Newswires Live
Yesterday

Treasury Wine Estates (ASX:TWE) axed about 170 jobs over the past few days, or nearly 7% of its headcount, as part of its Project Ascent cost reduction initiative, the Australian Financial Review reported Wednesday, citing a company spokeswoman.

The job cuts occurred mainly across corporate functions, and the company plans to hire for some new positions in commercial operations in Australia, New Zealand, and China, according to the report.

Treasury Wine Estates did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10