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Jobs go in Accolade, Treasury venture
Jul 24, 2012 (The Australian - ABIX via COMTEX) --
A restructure of two global wine companies will cause the loss of 175 jobs. Accolade Wines and Treasury Wine Estates will consolidate their bottling operations, providing economies of scale in Australia and the UK. Accolade will close its bottling plant in Adelaide and cut its global workforce by 10 per cent. The wine industry is under pressure from the high Australian currency and the two-speed economy caused by the mining boom.
Publication Date: 25 July 2012
TREASURY WINE ESTATES LIMITED - ASX TWE
ACCOLADE WINES LIMITED
HARDY'S PTY LTD
BANROCK STATION WINES
FOSTER'S GROUP LIMITED
SABMILLER PLC
PENFOLDS WINES PTY LTD
ROSEMOUNT ESTATES PTY LTD
WYNNS COONAWARRA ESTATE PTY LTD
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