Larry Williams Drive

The Warehouse Group has confirmed it's axing 340 jobs at their Auckland Support Office after a significant earnings drop. The company has reported Net Profit After Tax for the six months to January is down 60.9 percent compared to the same period in the previous financial year. Devon Funds Management retail head, Greg Smith says people's spending has changed as the cost of living has tightened. "30 percent of their turnover comes from Noel Leeming as well, so the spend on TVs, laptops, etc has certainly subsided." LISTEN ABOVESee omnystudio.com/listener for privacy information.