Plexure slashes 55 jobs to save $8m a year

Plexure Group chief executive, Dan Houden said the consultation process was essential to make the business stronger. (Photo: supplied)

Dan Brunskill

Tue, 14 Dec 2021

Payment and marketing firm Plexure has announced it will make 55 staff redundant to save $8 million from its wage bill each year.The company announced in November it was looking to restructure the business after it reported climbing losses and admitted its strategy had failed.Shares in the company have fallen more than 60% this year and traded as low as 38 cents each, due to the abrupt departure of two executives and weak earnings.Plexure reported a net loss of $8.5 million for the six months ended September, widening from $4.4m in the same per...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Bloomberg Opinion

US bonds have never been risk-free, and never will be

It will still be a low-risk asset and in high demand.

Bloomberg 5:00am

World

Morocco volunteers on Sahara clean-up mission

Some 50 people, gloved and equipped with rubbish bags, toiled away for five hours.

AFP 5:00am

Morocco volunteers on Sahara clean-up mission

On the Money

On The Money: Passports, road love and more ...

Our weekly round-up of things you didn't know that didn't make the news.

Pattrick Smellie 5:00am

On The Money: Passports, road love and more ...

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Markets

Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025

Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025