Forum Post: New Zealand newspaper story: Fletcher cuts jobs, seeks director fee rise
Posted 13 years ago on Nov. 15, 2011, 9:12 p.m. EST by JCNZ
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Fletcher cuts jobs, seeks director fee rise
One of the country's largest companies, Fletcher Building, has cut hundreds of jobs in New Zealand and Australia as a reaction to the building downturn, while at the same time seeking shareholder approval for a $500,000 increase in what it pays its directors.
Speaking after the company's annual general meeting in Auckland today, chief executive Jonathan Ling said the job cuts were ''significant'', although its total workforce globally comprises around 20,000 people.
Fletcher cuts jobs, seeks director fee rise
He didn't know the exact number of redundancies, but said there had been a ''few hundred'' job losses in Placemakers here and across the Tasman, 22 in Wellington construction and a further 200 job losses in Australia across the board.
The company hadn't calculated how much money was saved from these job cuts...
More: http://www.stuff.co.nz/business/industries/5975633/Fletcher-cuts-jobs-seeks-director-fee-rise
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