a new snippet in AFR Street Talk, written an hour...

a new snippet in AFR Street Talk, written an hour ago:

http://www.afr.com/p/opinion/elders_poised_to_cut_jobs_sources_xBCLGryfMDNSLjSQHrAwJM

"Elders poised to cut jobs"

It says Elders was hoping for about $300m to pay down debt of $387m, but it is understood the bid was between $200m and $250m.

"It is believed managers in the rural services division have been told that there will be significant lay-offs."
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Phase 1 in a restructuring, I guess. As the article above referenced BBG, ELD may have to do the same thing- sack workers (there will be loads of one=off costs for redundancies, etc), but it will make it leaner and possibly more sustainable.

Meanwhile, ELDPA's copping a right hammering, but folks are still buying ELD ords. Quite the disconnect there.