Sky City, as reported in the New Zealand Herald made a surprising announcement that it has delivered $11m in savings. Just six weeks after announcing it was embarking on a cost cutting exercise.
I read about this yesterday (no link) and was surprised that they could expect anybody to believe that it was possible.
Turns out it was not true. The the acting CEO Elmar Toime has explained all. He cut his managers budgets. Quote "brought forward future savings and removed some speculative savings".
Elmar: News Flash! Bringing forward future savings is speculative.
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