Hmm, spot the difference in the headlines of two press releases out today:
‘Fisher & Paykel Appliances Announces Global Manufacturing Strategy’
‘Next Steps in ANZ National’s business transformation’
Cut out the weasel words and what is the net result 930 fewer jobs in New Zealand.
The two companies involved, Fisher & Paykel and ANZ National, can hide all they want behind words, but their actions should be seen squarely for what they are a move to shift their business operations to countries where they can exploit cheap labour conditions.
F&P’s “global manufacturing strategy” and ANZ’s “business transformation” is about cutting costs and increasing profits. They should just say that.
F&P’s after tax profit last year was $61 million. ANZ’s was a whopping $1.168 billion. Both companies can afford to keep this work in New Zealand, but chose not to, in the pursuit of a quick buck.
– From a reader.
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