Features
Vbase Downsizes Following Earthquakes
New Zealand venue management company
The company runs the earthquake-damaged
The 9,000-capacity
The reorganization will leave it with 67 full-time equivalent staff (down from 218) with 54 full-time positions (99 previously).
The current Vbase board, chief executive Bryan Pearson and five senior managers, will also be exiting. Vbase faced financial problems before the quake, with the council considering an injection of NZ$45 million (US$37.3 million) to help service its $50 million debt.
The council has since taken over Vbase ownership.