15 Jan 2009

Big rise in company calls about restructuring and redundancy

7:58 am on 15 January 2009

The Northern Employers & Manufacturers Association says a large jump in inquiries shows just how severe the recession is.

Chief executive Alasdair Thompson says more than 800 calls about restructuring and redundancy were received in the final quarter of last year - an increase of 150% on the same time the previous year.

Mr Thompson says the September quarter saw a similar jump, with an 80% increase in such calls.

A quarterly survey issued by the New Zealand Institute of Economic Research earlier this week showed the number of lay-offs has increased, and more are expected in the next three months.