Almost 250 staff at Flight Centre will lose their jobs and 33 stores will be temporarily closed as the travel agency responds to a slowdown in travel due to coronavirus.
Flight Centre employs 1200 Kiwis and uses about 200 self-employed travel brokers, and has more than 140 retail store locations.
In a release today, managing director David Coombes said the decision "wasn't taken lightly and it was one we hoped to avoid".
"We took every possible step to save these roles but, in the end, we were left with no choice," Mr Coombes said.
"Our core product - international travel - has effectively been taken from the shelves in the short-term and, while we anticipate a strong rebound in time, it is impossible to predict the timeframe for recovery.
"We have had to take immediate and drastic action and I fear further tough calls will be needed if we do not get urgent government support."
Mr Coombes said those losing their jobs would primarily be those who joined the company less than a year ago, and that all of their contractual obligations will be met.
The changes take effect on March 30, and last until June 30.
The staff will finish with the company today, and Flight Centre is working with a number of other organisations to see whether the affected staff can be placed in other work.
Mr Coombes criticised the government providing support to airlines, but not to the travel agency industry also.
"We need help and we need it today," Mr Coombes said, "people will travel again, we just need support to get through this period: without it, this may only be the start.
"This is an incredibly difficult time for our people, we are all too aware that this decision will have an undeniable impact on their lives and families.
"I'm heartbroken that we weren't able to sustain our full team through this.
"We wish things were different but we have no other option right now."
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