Solid Energy's next move is expected to be a review of its head office staff.
Chairman Mark Ford has initiated a second review of employees, mostly based in Christchurch.
The company has already shed 400 staff out of about 1200 still on the payroll.
During the past 10 years the company saw an unprecedented rise in staff numbers under chief executive Don Elder.
He also embarked on various fringe projects, such as a biofuel plant (now sold).
The miner’s union has vowed to fight moves to axe more staff, saying they should not have to pay for the stupidity of management.
But yesterday’s shock revelations of debt at $389 million means the company is only surviving on the security that the government can provide bankers.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Tim Hunter on why Veritas is doing it the hard way
- Matthew Hooton on whether Steven Joyce will be the next national leader
- Rodney Hide on why all city planners should be fired
- Nevil Gibson discusses his latest Editor's Insight on films
- The NBR crew throw around some of the week's top stories
- Rob Hosking breaks down the political and economic week that was
- "A tragedy" - David Farrar on his disappointment with Simon Bridges
- New F&P product pipeline exciting, says Macquarie senior investment adviser Brad Gordon
- Taupo Motorsport Park executive director Tony Walker on the park's rebranding
- NZIER senior economist Christina Leung on why she does not think the OCR will hit 2%
- NBR's Cameron Officer talks about the NBR Car of the Year 2015
- John Barnett on Brewer: ‘Boy, has he got a bit to learn’