AUCKLAND (NZ Punjabi News Service): At least workers people will lose their jobs as Christchurch City Council has sold the Red Bus business.
Ritchies Transport has bought the business for an undisclosed sum, the companies announced on Wednesday.
Six of Red Bus’ 11 city routes and its school contracts were sold to other companies in February after which it was expected that whole of the service will be sold in future.
The sale to Ritchies Transport includes Red Bus’ remaining five city routes and 52 buses. Another 76 buses and land on the corner of Moorhouse and Fitzgerald Aves are not part of the sale.
Red Bus chief executive Tony King said majority of staff, 145, would transfer to Ritchies, but 63 workers will be retrenched. Most of the 63 workers being retrenched are casual or fixed-term employees or people taking voluntary redundancy. Red Bus Ltd had suffered $5.3 million loss last year.