Seven redundancies have been confirmed in the Dunedin office of worldwide property consultancy company DTZ - following a London head-office decision - but its staff will resurrect the business with a new company.
Following speculation around the city during the weekend, DTZ Otago branch manager Stephen Cairns was contacted yesterday and confirmed the six full-time and one part-time jobs would cease on April 17 when DTZ closed its doors.
However, Mr Cairns said two staff already had new jobs and the remainder would "rebuild and relaunch the business", under a yet-to-be decided name.
"We see this more as an opportunity rather than a threat," he said.
DTZ and its forerunners before buyouts, has been in Dunedin for about 25 years, under various guises.
DTZ was part of the largest valuation company in New Zealand, and also undertook property management and other agency work.
Mr Cairns understood the London-based chief executive of DTZ was in Australia 11 days ago and had subsequently decided "they wanted smaller offices in the Antipodes".
While there had been DTZ office closures in Europe, he had not been able to confirm if other New Zealand offices are to be closed.
