NATIONAL: Childrenswear retailer Pumpkin Patch has blamed a slow retail environment for its decision to slash 30 jobs at its Auckland headquarters. Staff were reportedly told this would be the largest number of job losses in the company's 17-year history, with 30 head office staff being made redundant out of 400. According to a report by Radio New Zealand, the company aimed to save $A8.51 million or 11 per cent of its total $A76.63 million payroll.
Chief financial officer Matthew Washington said many businesses were looking to streamline their operations under the current retail climate.
"This is us reacting to a slower retail environment," he said.
The company currently has 4000 employees worldwide.
Pumpkin Patch posted a 27.5 per cent decline in full year profit for fiscal 2008, citing higher interest and quota charges and a tough trading environment in the United States.