Two companies join nine-day fortnight - 60 more enquiring

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Two more companies have signed up to the Job Support Scheme, better known as the nine-day fortnight, and the government says plenty more are interested in joining.

Social Development Minister Paula Bennett today announced that Oamaru-based Summit Wool and another manufacturing firm, which wishes to remain anonymous, had joined Fisher & Paykel Appliances in signing up to the scheme.

This means that so far 123 jobs have been “saved” by the scheme: 60 at Fisher & Paykel’s manufacturing arm, 57 at Summit Wool and six at the unknown firm.

“We are now seeing the benefit of this scheme for employers and their employees as we work through these difficult economic times,” Ms Bennett says.

“The impact of retaining these jobs for at least the next six months should not be underestimated. Summit Wool is Oamaru’s second-biggest employer.”

She says Work and Income had had around 60 approaches from mainly manufacturing and construction businesses about the scheme and how it might work for them.

“I expect that more firms will come on board in the next few weeks,” she says.

Under the scheme, employers, workers and unions will negotiate voluntary agreements to reduce their hours of work.

The government will pay employers $12.50 (the adult minimum wage) an hour per worker, for up to five hours a fortnight.

Workers cannot be made redundant while they are in the scheme.

 


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6348 -0.0110 -1.70%
AUD 0.8921 -0.0117 -1.29%
EUR 0.5654 -0.0109 -1.89%
GBP 0.4137 -0.0053 -1.26%
HKD 4.9188 -0.0868 -1.73%
JPY 76.8940 -1.4180 -1.81%

Commods

Commodity Price Change Time
Gold Index 1133.3 8.610 2015-08-28T00:
Oil Brent 50.0 7.240 2015-08-28T00:
Oil Nymex 45.2 2.730 2015-08-28T00:
Silver Index 14.5 0.120 2015-08-28T00:

Indices

Symbol Open High Last %
NZX 50 5681.3 5690.4 5670.5 -0.25%
NASDAQ 4798.7 4824.6 4828.3 -0.22%
DAX 10201.0 10273.5 10298.5 -0.38%
DJI 16632.0 16632.0 16643.0 -0.27%
FTSE 6192.0 6247.9 6192.0 0.90%
HKSE 21793.0 21793.0 21612.4 0.27%
NI225 19007.0 19019.6 19136.3 -1.28%