It is understood that some staff have concerns about the cuts at a time when the company appears to be spending. One NZ was recently revealed as the naming rights partner of Te Kaha Stadium in Christchurch and has moved its support office into new premises in Auckland.
The employment market generally has become much weaker in recent months.
As well as public sector job cuts, which RNZ estimates now top 6000, private businesses have been reducing their headcounts.
Trade Me said in its most recent update that job applications were at a record level in the June quarter, as listings numbers dropped.
There are now 380,889 people on main benefits, up from 351,759 a year ago.
Forecasts are for unemployment to peak between 5.3% and 5.5%, from a rate of 4.3% currently.
Assuming the number of filled jobs remained the same, that would mean an increase of about 170,000 people becoming unemployed.
Independent economist Shamubeel Eaqub said that was possible but he expected unemployment would not peak as high this cycle as in the past because businesses would be loath to let staff go.