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200 Mainzeal staff axed

GREG NINNESS
Last updated 16:26 11/02/2013

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About 200 Mainzeal Property and Construction staff were made redundant today as the company’s receivers continued a review of operations.

Receiver Colin McCloy, of PricewaterhouseCoopers, said about half of the company’s 400 staff had been made redundant.

They were a mix a staff from its Auckland head office and various building sites around the country.

McCloy said it was necessary to review the company’s staffing levels to urgently reduce cashflows.

The receivers were conducting a site-by-site review of all of the company’s projects to work out the best strategy for each of them.

This involved about 40 projects, and McCloy said the receivers had reviewed about half of them since being appointed last Wednesday.

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