DNZ Property Fund axes five jobs to cut costs

Sun, 13 Apr 2014

By Suze Metherell April 14 (BusinessDesk) – DNZ Property Fund, the worst performing property stock on the NZX 50 Index the past year, will shed five jobs, including two executives as it looks to cut costs. The restructure, initiated by chief executive Peter Alexander who joined the company in December, will save $1 million in annual remuneration from the 2016 financial year, the Auckland-based company said in a statement. In the 2013 financial year DNZ spent $3 million on key management personnel costs, with $2.5 million on salary and other...

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