The struggling state-owned coal miner, Solid Energy, says it is possible there will be more redundancies.
The company appeared before the Finance and Expenditure Select Committee this morning.
It told MPs the company is solvent and marginally cash positive, but looking at another significant loss this year.
Chief executive Dan Clifford said the falling international price of coal continued to make things difficult for the company.
"I think in the current market conditions and movements towards reducing our activity and therefore reducing the negative margin tonnes in the market, that reductions will be inevitable on the basis of those plans."
Another loss expected
Earlier, acting chairman Andy Coupe told the committee the company was solvent and marginally cash positive, but looking at another loss this year.
He said Solid Energy had reduced its costs by 30 percent over the past 18 months, but the falling international price of coal continued to make life difficult.
"The business is marginally cash positive and we forecast that we'll maintain that position through to the end of the financial year, 30 June 2015.
"However after non-cash costs and interest we are looking at another significant loss."
Solid Energy was bailed out by the Government and its banks in 2013 and has a debt of about $300 million.
Finance Minister Bill English said yesterday the Government was still trying to find out whether the mining firm can be a viable business.
He said the ailing coal company would not get any more money from the Government.