Spiralling energy costs and falling paper prices land ‘devastating’ blow on Tokoroa
The 230 workers set to lose their jobs at Tokoroa’s Kinleith Mill - 2.2% of the entire South Waikato workforce - have been caught between double-digit production cost hikes and falling paper prices in what one economist said is a “devastating” blow to the Waikato town.
News of the job cuts came on Wednesday after workers were told parent company Oji Fibre Solutions was facing “extreme financial headwinds”.
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