NZME's stock has plummeted as the Covid-19 crisis cuts into the media company's advertising revenue. As a result the company has warned staff that jobs are on the chopping block at the NZ Herald and at Newstalk ZB.
Chief executive Michael Boggs told staff in an email yesterday the company would have to contract to continue operating.
NZME made its first major cuts on Monday when Radio Sport was shut down with immediate effect.
Mediawatch's Colin Peacock.
