It was today expressed by Tourism Holdings that 64 roles would be cut at its Hamilton based business CI Munro.

CI Munro is a division of Tourism Holdings Ltd and it builds and rents out motor homes and caravans. It reported loss of $3.2 million in the six months to December 31st.  

Tourism Holdings chief executive Grant Webster said that the decision was based on the present global economic conditions and lack of demand for the company's products.

The company said that over the next 12-18 months there may be a decrease in the size of the business based on expected volumes.

Webster said, “The changes whilst difficult place the business on a much more secure footing and whilst nobody can predict the future we are here to support this business and we will do so with a positive outlook.”

(Via TopNews New Zealand. Contributed by Amiri Halberg)