Christopher Adams

The Business Herald’s markets and banking reporter.

F&P Appliances prunes 29 jobs

Fisher & Paykel Appliances says the timing of the redundancies is not yet clear. Photo / Glenn Jeffrey
Fisher & Paykel Appliances says the timing of the redundancies is not yet clear. Photo / Glenn Jeffrey

Fisher & Paykel Appliances says 29 staff will be laid off at its East Tamaki plant as a result of manufacturing work being shifted to one of its overseas factories.

"As part of the on-going review across our business we continue to assess where production is best located," said chief executive Stuart Broadhurst.

He said staff had been informed of the news last month.

The affected staff were still working at the South Auckland plant and the timing of the redundancies was not yet clear, he said.

F&P Appliances has shed hundreds of staff in Auckland and Dunedin in recent years through shifting manufacturing to lower-cost factories in Thailand and Mexico.

At the company's annual meeting last year chairman Keith Turner said that while the manufacturing relocation was completed, "considerable refinements" were still required.

"Some of the company's manufacturing locations are not yet optimised," Turner said.

In May F&P Appliances reported a $1.04 billion revenue for the 12 months to March 31, while normalised net profit fell 12 per cent to $26.3 million. Shares closed up 0.5c at 56.5c last night.

- NZ Herald

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