At least 1,500 jobs are on the line at Fletcher Building - the latest company to undertake significant cost saving measures in the wake of Covid-19.
It took a $55 million pre-tax hit during the lockdown and despite government-backing to ensure billions of dollars worth of infrastructure projects, it is still expecting a downturn in the coming months.
The decision has surprised unions representing workers, who say people should be prioritised over profits.
Business reporter Emma Hatton has the story.
