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".

Article: http://www.stuff.co.nz/business/83013257/eqc-announces-major-downsizing-despite-thousands-of-secondtime-repairs

Melanie Tobeck