Treasury Wine Estates has put up several of its wineries for sale and is planning to close packaging and warehousing facility near Mildura, Australia as part of a major cost-cutting initiative.
Treasury Wine Estate's T'Gallant winery on the Mornington Peninsula and Bailey's of Glenrowan, have been put up for sale.
The winemaker is yet to confirm how many jobs will become redundant in this restructuring process.
The packaging work at the Karadoc, Mildura facility will be moved to the Wolf Blass facility in Barossa region while wine processing operations will continue at the site.
Treasury intends to cut down $50m in annual costs through the restructuring process.
As part of this process, a number of its US operations will also be merged.
Treasury chief executive Michael Clarke was quoted by Herald Sun as saying: "By continuing to reduce costs, and optimizing the scale and efficiency of our supply chain networks in major production areas, TWE is well placed to pursue growth opportunities that exist for our wine brands in key markets around the world."
