Saputo international president and chief operating officer Leanne Cutts said it was a “very difficult decision”.
“Today’s announcement continues our journey towards long-term success for our business in Australia by increasing our efficiency and productivity, and making our business more competitive,” Ms Cutts said.
Saputo Australia reported a $54.4m annual loss for the 12 months to March 31 – a stark difference to the $30.6m net profit in 2021.
The company's milk collections have also plummeted to 2 billion litres from a forecasted 3.1 billion litres in just three years.
The major news comes after the company has already closed two milk dryers at its Maffra factory and shut down its individual wrapped cheese slice factory in Cobram on the Murray River.
