Over 1000 jobs lost in a day (+video)

One thousand jobs are being exported in a single day.
View video: Fisher & Paykel moves offshore

It was announced yesterday that almost 500 manufacturing jobs will go from Dunedin, most laid off by Fisher & Paykel, with 100 more expected soon.

Another 500 back-office processing jobs will be shifted to India by ANZ National Bank.

The Kiwi dollar is near US80c, hammering exporters, and some business groups expect more factory jobs to go.

NZ First said manufacturing had been "thrown to the wolves" and more jobs would head overseas unless the exchange rate came down to a realistic level.

Bank union Finsec said ANZ National was "racing to the bottom" for cheap labour in India. ANZ National said it hoped to move the 500 people whose jobs were being transferred into other bank jobs.

Fisher & Paykel plans to cut 430 jobs at its Dunedin factory and a former factory boss expected another 100 engineer jobs to follow soon. Dunedin knitwear maker Tamahine is also laying off 50 staff because of cheap Asian imports.

- © Fairfax NZ News