An employment dispute between mobile phone company 2degrees and its co-founder Simon "Tex" Edwards has been settled outside of court.

Mr Edwards sought an order that the Employment Relations Authority (ERA) withdraw an earlier decision against the company after it was found to have incorrectly cut his salary from $350,000 to $200,000.

In the earlier decision, the ERA ruled that 2degrees make up the salary, plus interest, and pay Mr Edwards compensation and a $4000 penalty.

Today the ERA released a decision which said the parties had "comprehensively" settled the issues between them, and quashed the previous order.


The decision did not give details of the settlement.