TVNZ to cut between 70 and 90 Jobs | NZ Market Update

  • Jun 15, 2020 NZST
  • Team Kalkine

Augusta Capital Limited (NZX:AUG) got a takeover notice from Centuria Capital Group to purchase shares that shall increase its holding to 100 per cent of shares at $1 per share price. The takeover notice is not a takeover offer and if Centuria proceeds to make a takeover offer, it must do so within the period that begins 14 days and ends 30 days after today.

TVNZ is preparing to cut between 70 and 90 jobs and has begun consultations with staff. The changes were necessary to protect the "financial sustainability of the business", which continued to be influenced by Covid-19’s impact on the advertising market, chief executive Kevin Kenrick said in a statement.

As per Stats NZ, the number of people passing through New Zealand's border in April 2020, fell to the levels last witnessed in the 1960s. If we talk about April 2019, the combined arrivals and departures stood at nearly 1.2 million, and in April 2020 it stood at mere 38,200.

#AUG #TVNZ #KALKINE

 


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