May 19, 2020 / 8:56 PM / 17 days ago

NZ's Fletcher Building warns coronavirus will lead to sharp downturn in 2021, announces job cuts

May 20 (Reuters) - Fletcher Building Ltd on Wednesday warned that the coronavirus will lead to a sharp downturn in 2021 and potentially beyond as it laid off 1,500 staff to weather the hit to operations.

New Zealand’s largest construction firm said around 1,000 positions will be cut in the country and an additional 500 in Australia. (Reporting by Shruti Sonal in Bengaluru Editing by Chris Reese)

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