Coronavirus

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...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation

Court keeps prominent family's commercial dispute under wraps

Victoria Young | Wed, 10 Aug 2022

The proceeding alleges breaches of the Companies Act and breach of contract.

Markets

Analysts watch for faltering economy in August earnings

Dan Brunskill | Wed, 10 Aug 2022

Reporting seasons begins in earnest next Monday when Contact Energy reports its full-year results.

Law & Regulation

Commerce Commission will use beefed-up fines to chase non-notified mergers

Greg Hurrell | Wed, 10 Aug 2022

The Commerce Commission says it will not let bygones be bygones when it comes to issuing fines and even winding back uncompetitive company mergers it wasn't told about.

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

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team