Coronavirus: SkyCity proposes cutting another 700 employees

Entertainment giant Sky City says it is looking to axe a further 700 jobs.

The company says the proposal to reduce the number of waged staff will ensure the business can operate going forward.

Sky City had already restructured its management team and salaried employees.

"These difficult actions will help to create a business that is sustainable in the medium and long term and one which can continue to support the thousands of jobs that will still remain," chief executive Graeme Stephens said in a statement.

The business relies heavily on international tourism, and its restaurants, hotels and casinos have been hit hard by the COVID-19 lockdown.

On Monday, Stephens said the business would reopen smaller and more "domestically focussed".

"For a company that is centred around its people, this is incredibly difficult for all involved," he said. "At SkyCity we are a family and it is incredibly tough to say goodbye to valued team members, however, we need to ensure our business is best prepared to operate in the new environment."

The company had already made 200 staff members redundant last month while many others were asked to take pay cuts.