The company has also implemented a recruitment freeze and discontinued contractor work.
Chairwoman Therese Arseneau said like many organisations and businesses, it has suffered revenue declines off the back of the Covid-19 outbreak and both the board and the chief executive agreed to pay reductions.
Dr Arseneau said ChristchurchNZ needed to reduce costs following Covid-19 pandemic to ensure it was directing maximum possible resources towards the city’s economic recovery.
“We have a huge job to do. It’s critical at this time for ChristchurchNZ to stimulate the economy and therefore to protect the jobs of Cantabrians.
In the 2018-2019 financial year, the most recent information available, four of five of ChristchurchNZ's directors were paid $70,000 whereas Dr Arseneau was paid $70,000. Chief executive Joanna Norris was paid in the $335,000 to $339,000 range.
Said Ms Norris: ‘’Our people are among our greatest strengths and it is important we retain those people to do the important job we have to do facilitating economic recovery, supporting businesses and saving jobs.
‘’Our economists, business support and innovation specialists and marketing, tourism and events teams will help drive the recovery of the city and are entirely focused on this work.’’
ChristchurchNZ is currently collaborating with the city council to deliver an economic support package.
The package includes short-term measures such as offering business support, subsidies to businesses affected by Covid-19, and marketing support to help navigate the economic and resourcing impacts of Covid-19.’’
