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

Plan change to boost 'capital city of growth' accelerated
Infrastructure

Plan change to boost 'capital city of growth' accelerated

Auckland Council has until May 30 to make decisions on a development-friendly plan change.

Oliver Lewis 26 Mar 2025
RMA replacements to end 'culture of no'
Policy

RMA replacements to end 'culture of no'

The Government looks to Japan as it unveils two replacement planning laws.

Oliver Lewis 24 Mar 2025
Rebuild opportunities in Christchurch coming to market
Infrastructure

Rebuild opportunities in Christchurch coming to market

The Crown wants to divest three sites, including a residential super lot.

Oliver Lewis 24 Mar 2025
Heavy seas damage blades destined for Antarctic windfarm
Infrastructure

Heavy seas damage blades destined for Antarctic windfarm

Five of nine blades had to be returned to NZ after heavy seas in the Southern Ocean.

Oliver Lewis 21 Mar 2025