A corporation owned by Christchurch ratepayers is planning to cut its permanent workforce by 60 percent. Events company Vbase said it was a direct reaction to the Covid-19 initiatives for public health, which resulted in a 100 percent reduction of sales.
New Zealand reported no new cases of the virus today was the third day in a row, the Budget Plans unveiled more support for the response to the pandemic, and businesses had a bittersweet welcome at level 2.
Media business Stuff is to sell its fibre arm for an undisclosed amount to Australian telecommunications firm Vocus. Stuff was the target of intense rumors about its future and a potential merger with NZME but it said no offer had been reached earlier this week, although NZME insisted an offer was still on the cards and was seeking permission to buy Stuff for a nominal $1.