Six thousand staff at Fonterra earn over $100,000

Fonterra has faced intense investor scrutiny this year.

Nearly 6000 Fonterra workers are paid more than $100,000 - 750 more than in 2017.

One of the country's biggest employers, with 21,500 workers, also has 24 staff on at least $1 million - one less than in 2017.

The average annual salary in 2017 was $50,000.

The top earner at the co-op is, unsurprisingly, its chief executive.

Departing Fonterra boss Theo Spierings netted $8m in the year to June, slightly down from the $8.3m he banked during 2017.

There were 23 people below him earning over $1m and two who earned more than $3m.

Fonterra chief executive Theo Spierings. Photo / Jason Oxenham.

The proportion of Fonterra staff who earned more than $100,000 grew in 2018.

Six thousand broke through that threshold in 2018, while the co-op's overall staff count only grew by 100 to 21,500.

According to financial statements, 5245 Fonterra staff earned more than $100,000 in 2017.

Air New Zealand, which employs 12,000 people, pays 4200 staff over $100,000.

Fonterra has reported a net loss of $196 million for the July year - its first annual loss since its inception in 2001.

The previous year's net profit was $745 million.

The co-op said its normalised earnings before interest and tax was $902 million, down 22 per cent.

Fonterra said its total cash payout for the year would be $6.79, comprising a Farmgate Milk Price $6.69 per kgMS and a 10c dividend.

Fonterra has reported a net loss of $196 million for the July year - its first annual loss since its inception in 2001.

The previous year's net profit was $745 million.

The co-op said its normalised earnings before interest and tax was $902 million, down 22 per cent.

Fonterra said its total cash payout for the year would be $6.79, comprising a Farmgate Milk Price $6.69 per kgMS and a 10c dividend.