A Christchurch contracting business that employs about 20 staff is set to close, with a boss saying the city's market is an "absolute disaster."
Ian Cole, JFC chief operating officer, said today: "We have a small branch office in Christchurch which will close either later this year or early next year. It has maybe about 20 staff."
Layoffs were planned due to lack of work, he said but two water contracts would be finished before the closure.
"It's been a slowing up of the branch and its work over time. There's no great surprise. The market is an absolute disaster down there," Cole said of Christchurch.
"We probably had a maximum two years ago of 120 staff. A few of them - about 20 to 30 - have relocated to Auckland but some can't due to having homes and families there. Work has been diminishing over time. A lot of people moved there after the earthquakes," he said.