Fletcher to cut 1,500 jobs; sees 30% drop in building consents

Fletcher to cut 1,500 jobs; sees 30% drop in building consents
Victoria Young
Fletcher Building will cut 10 percent of its workforce, or 1,500 jobs, as it prepares for a sharp downturn due to covid-19. It will cut 1,000 jobs in New Zealand and 500 in Australia. The construction company recorded a $55 million operating loss before interest and tax in April as a result of shutting down more than 400 sites during New Zealand’s government-mandated covid-19 lockdown. It told the market today its Australian arm had broken even during this time “Looking to the next financial year, we are planning for an environment tha...

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