Fletcher Building cuts more than 500 jobs; eyes $200m annual savings

Fletcher Building cuts more than 500 jobs; eyes $200m annual savings
Fletcher Building managing director Andrew Reding says firm's cost-cutting programme won't influence thinking on strategic review. (Image: NZME)
Rebecca Stevenson
Fletcher Building has cut more than 500 jobs, about half of them in Australia, as it pursues an aggressive cost-cutting programme. The dual-listed building giant said on Wednesday it had trimmed about $91 million in costs in the first half of the 2025 financial year and reduced overheads by $61m. The building materials and construction conglomerate will announce a review of its portfolio and potential divestments before a planned investor day in June and is also reviewing its capital structure after a torrid 2024. Fletcher report...

More Infrastructure

‘Tweak’ viewshafts to enable more Auckland high-rises
Infrastructure

‘Tweak’ viewshafts to enable more Auckland high-rises

Chris Bishop wants to maximise opportunities from the $5.5b City Rail Link project.

Auckland Airport ‘just asking questions’ about airline competition
Infrastructure

Auckland Airport ‘just asking questions’ about airline competition

Regional NZ flyers are bearing a particular brunt, the airport says.

Pattrick Smellie 20 Feb 2025
Manukau Harbour port option ‘technically feasible’
Infrastructure

Manukau Harbour port option ‘technically feasible’

Dredging a channel and port area would take several years and up to $1.2b.

Oliver Lewis 20 Feb 2025
Infrastructure fund benefits 'oversold' – developer
Infrastructure

Infrastructure fund benefits 'oversold' – developer

Developers outline problems with projects supported by a slow-going fund.

Garth Bray 19 Feb 2025