2degrees to lay off 120 staff, slash costs as covid-19 hits revenue

Paul McBeth
Tue, 14 Apr 2020

Two Degrees Mobile will lay off 120 staff as part of a wider cost-cutting drive to offset the decline in revenue brought on by the covid-19 crisis.The country’s third mobile player said it’s working through a range of initiatives to strip out costs and plans to cut its 1,200-strong workforce by a tenth. It’s seeking other savings by cutting its capital spending, putting off non-essential projects, imposing a hiring freeze, and renegotiating supplier rates and vendor costs.“The harsh reality is that we must now take decisive action, reducing sta...
Election 2020
ELECTION 2020: Boag quits Nats; confirms more patient leaks
Victoria Young | Fri, 10 Jul 2020

Long time National Party member Michelle Boag has quit the organisation and admitted she sent patient details to opposition immigration spokesperson Michael Woodhouse.Woodhouse, in a statement, said h...

Primary Sector
Emissions, water settings will put brakes on export plans - economists
Brent Melville | Fri, 10 Jul 2020

Greenhouse gas commitments and freshwater settings have tempered New Zealand’s export goals for the next decade, which would otherwise be a whole lot more ambitious, economists say. The government'...

Markets
MARKET OPEN: Smelter impact may linger over local market; dour Wall St won't help
Rebecca Howard | Fri, 10 Jul 2020

New Zealand investors may continue to bail out of electricity generator-retailers after news the Tiwai Point smelter will be closed in just over a year, and a mixed night on Wall Street won’t help sen...

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Think everyone is going to keep working from home? No so fast, says Milford Asset Management.