Carter Holt layoffs blamed on building drop

Last updated 05:00 27/11/2012

Relevant offers

Industries

High court bid in wings to shed light on TPP talks Inland port at Rolleston means more freight for Timaru Port of Tauranga opens its Canterbury inland port Windows 10 uses customers' computers to distribute updates Why faking your CV is a popular pastime Pager network to be switched off in 2017 TPP may force New Zealand to amend software patent law Shanton rescued, but another fashion store Identity in liquidation Rocket Lab signs deal to work with Nasa FMA sues former Milford Asset Management portfolio manager

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