A metal and wire products manufacturer says it has been forced to close its Auckland factory due to NZ Transit Agency's “unacceptable delays” in managing the compulsory purchase and move of the business to a new site.

More than 1200 jobs will be shaved as a result of the formation of the Auckland supercity by November 1 but a further 300 transitional staff will go by July 2012.

In a statement this morning, the Auckland Transition Agency said the number of fulltime equivalent staff by July 1, 2012 would be 7907, down from 9430 jobs across the five local authorities today.

The reduction in jobs reduces the total salary bill $66.5 million a year to $537.5 million.

Sun Microsystems plans to slash about 3000 jobs around North America as part of the company’s restructuring plan, it was announced today.

Sun Microsystems’ board of directors confirmed this morning the company needed to “better align” its resources with its strategic objectives, which includes making 3000 people redundant over the next 12 months. The move comes about two months after database giant Oracle bought the company.

Air New Zealand says the departure of its first Boeing 747-400 today on its final flight reflects the effect of the global economic downturn on the airline and New Zealand’s economy in general.

The plane will depart from Auckland this evening and fly to Los Angeles, stopping briefly before carrying on to its final destination in Roswell, New Mexico, where it will be dismantled for parts.

This year would have marked the 20th anniversary of the aircraft’s arrival in Auckland from Boeing’s Seattle factory in December 1989.

First revealed in a report yesterday afternoon, Westpac New Zealand has now confirmed to NBR that it will freeze pay for all managers earning more than $70,000 as it tries to combat a recent drop in earnings.

The freeze will also apply to the bank’s executives.

Fishing company Sealord is planning on moving more of its processing away from its Nelson plant and on to its boats, with the potential loss of 180 jobs on land.

The company today revealed a number of new initiatives designed to strengthen its core business and position the company for further international growth.

These include:

- reducing the amount of fish processed at the company’s Nelson plant with a cut to a single shift operation;

- taking a closer look at proposals designed to make processing on shore more viable;