Elders consolidates

Press, 17 June 1988, Page 16

Elders consolidates

Elders Pastoral was still “in for the long term” in spite of having to lay off 150 people and close 25 branches in New Zealand earlier this week, said the chairman of Elders IXL, Mr John Elliot.

He said Elders had had to consolidate its position and adapt to the changing needs of farmers.

A new regional structure had been established for the company. Regional headquarters would be based in Whangarei, Hamilton, Feilding, Hastings, and Christchurch. “The regional structure addresses the needs of today’s rural industry arid provides a sound base to grow from.”

Elders would streamline its business under the new structure to focus on its livestock and wool agency operations. Mr Elliot said Elders planned to expand its network of real estate outlets as opportunities arose.

A comprehensive job search, career planning and counselling sessions, as well as redundancy packages were being offered to staff.

Existing clients would be contacted personally about the changes, Mr Elliot said.

The closure of the Eld-, ers branches was an inevitable consequence of the Government’s attack on agriculture, said the

Opposition spokesman on agriculture, Mr John Falloon.

He said National predicted there would be more closures in the meat industry and other agricultural servicing industries in the next few months.

Meat and wool farmers’ net incomes were down 50 per cent compared with three years ago, and were at the lowest level since measurements started in 1960.

Stock and station agents had been cannibalising each other in the last few years. Elders had been a welcome entrant to increase competition, said Mr Falloon.