Carter Holt layoffs blamed on building drop

Last updated 05:00 27/11/2012

Relevant offers

Industries

Parking app hopes to prevent crimes against women Fresh push to get more women into IT No visitor levy but other sweeteners possible - Steven Joyce Union pushes for tighter lift safety rules following death of Wellington man Brendon Scheib Building consents top $2 billion for the first time 'Perception' the problem as super changes bring ageism into sharper focus Chart of the day: Sharp drop in value of exports from Port Taranaki Wellington's Amora Hotel says it is closing for up to 12 months TVNZ outlines newsroom cuts to staff No fine but demolition company director pleads guilty over asbestos danger

Billionaire Graeme Hart's Rank Group offshoot Carter Holt Harvey is laying off 70 workers in Rotorua and Tokoroa, with a union saying it is "bleak news" just before Christmas.

Union members met yesterday to discuss the company proposal to cut 18 jobs at its Tokoroa plywood plant and the closure of its Rotorua Profiles plant with the loss of more than 50 jobs, including contractors.

Hart is estimated to be worth about $6 billion, making him New Zealand's richest man, though he ceased being a director of CHH earlier this year.

CHH blamed a fall in demand from export markets in Australia and a lack of new home building in New Zealand as the reason for the redundancies, the workers' union said.

However, in the year to September 2012, the value of new dwelling consents grew by 26 per cent to $4.6 billion and the number of new dwellings consented was up 19 per cent to 16,000 dwellings.

EPMU timber industry organiser Ron Angel said the announcement was bleak news, especially just before Christmas.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content