Troubles with Fletcher Building shine a light on the country's economic landscape
Troubles with Fletcher Building shine a light on the country's economic landscape
21 May 2020
The construction giant has announced about a thousand jobs will go in New Zealand -- equivalent to about 10-percent of its workforce.
So far in May, their overall revenue is currently tracking at around 80 per cent of pre-covid levels.
JMI Wealth Director Andrew Kelleher says it's very sobering.
Fletchers say lock down and covid-19 will have a significant impact on their business, expecting a sharp downturn in the financial year of 2021 and potentially beyond.
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