EQC announces major downsizing despite thousands of second-time repairs
GEORGINA STYLIANOU AND NICK TRUEBRIDGE, The Press
The Earthquake Commission (EQC) will slash hundreds of jobs next year, despite having thousands of second-time repairs on its books.
The country's natural disaster insurer will cut 242 jobs in Christchurch, reducing its operating costs from $190 million to $95m.
EQC chief executive Ian Simpson on Wednesday announced a proposed restructure to reflect the commission "approaching the final point" of its Canterbury earthquake work.
Labour's Canterbury spokeswoman, Megan Woods, said EQC's job was "far from complete".