Sharp cuts loom for paper company jobs

Sharp cuts loom for paper company jobs
Opal chief executive said the company was inefficient. (Image: Getty)
Murray Jones
A multinational paper and packaging company with sites in Auckland, Hastings and Christchurch is set to cut jobs in New Zealand.Opal Packaging, which Japanese paper giant Nippon owns, told its workers in March that it would be cutting 220 jobs across its Australia and NZ sites, as reported by ABC. Opal confirmed to BuisnessDesk that due to drops in profitability, it is “reviewing its organisation structure across salaried roles”, but it refused to confirm how many NZ jobs would be cut. It could affect the company&rsqu...

More Economy

Why this Australian investor likes NZ-listed companies
Economy

Why this Australian investor likes NZ-listed companies

Fund manager believes in NZ's economic recovery, and is putting money behind it.

Manawa deal sparks talk about Infratil's plans
Economy

Manawa deal sparks talk about Infratil's plans

Analysts expect a sale of its WLG Airport stake. Former executives aren't convinced.

Westpac adds another rate cut to its forecasts
Economy

Westpac adds another rate cut to its forecasts

Westpac Bank now expects the official cash rate (OCR) to trough at 3% and has pushed back the timing of its forecast tightening cycle.“Downside risks from global growth suggest the RBNZ [Reserve Bank of New Zealand] may continue easing beyond May,” chief economist Kelly Eckhold s...

Rebecca Howard 09 May 2025
Rams Logistics owed $3.2m to IRD
Economy

Rams Logistics owed $3.2m to IRD

About 50 employees are owed approximately $760,000, the liquidators said.

Gregor Thompson 08 May 2025