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An Auckland technology company is set to shed around 100 jobs - a quarter of its total staff - as it looks to restructure the business following a merger.
The move by electronic payments firm ProvencoCadmus follows announcements of triple-digit job losses planned by meat marketer PPCS and fishing company Sealord.
It also comes on the heels of outsourcing moves announced last month by whiteware manufacturer Fisher & Paykel Appliances and ANZ National, New Zealand's largest bank.
Redundancies at ProvencoCadmus had been expected when shareholders in publicly listed Provenco Group and Cadmus Technology voted to merge last month. Staff were given more details yesterday at Provenco's offices in College Hill.
Chief executive Jim Doyle said some sales, engineering and support roles would go, with some middle management roles, as a result of the duplication in functions arising from the merger.
A review under way will determine final redundancy numbers, but the expectation is for around a quarter of staff to lose their jobs.
"We've made a commitment to the staff that everybody will know exactly where they are by the end of June," said Mr Doyle.
Staff who were made redundant would be offered support through initiatives such as career transition programmes.
Provenco and Cadmus posted net losses of $5.2 million and $4.5 million respectively last year.
