re: Ann: NZ$1 billion telecommunications cont...
cause the lost part of that contract to leighton
Simon Louisson | June 25, 2009 Article from: Dow Jones Newswires NEW Zealand's dominant telco, Telecom Corp of New Zealand, today said it had awarded a $NZ1 billion ($800 million) contract over 10 years to Visionstream, a unit of Australian-listed construction company Leighton Holdings, as part of a shakeup of its network company, Chorus.
A similar-value contract were also awarded to the Australian-listed Transfield Services.
Downer Edi had also been awarded a contract in a separate arrangement.
However, those two had lost part of their former contracts to Leighton Holdings unit Visionstream and would have to make substantial staff cuts, Chorus’s head of communications, Melanie Marshall, told Dow Jones Newswires.
She said Transfield and Downer would have to cut 950 staff and contractors because the companies had lost Chorus contracts covering Auckland, Wellington and Northland, but she said Telecom expected most, if not all, of those workers to be picked up by Visionstream.
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