Tourism company AJ Hackett Bungy may cut or redeploy about 150 jobs, more than half its staff, as the firm looks to temporarily downsize.

Managing director and co-founder Henry van Asch said with no obvious return of the international visitor market the firm needed to streamline itself to be sustainable through a very challenging period.

The company was waiting for more details about the eight-week extension of the wage subsidy from the government, but would keep crew on it as long as possible, he said.

"We're optimistic about the future of tourism in New Zealand and we're keen to keep our people close, if it suits them, so they can come back to work at Bungy again as soon as the market begins to bounce back."

Van Asch was hopeful the company would secure secure government funding from the Strategic Assets Protection Programme to retain core skills and experience.