Riviera cuts one-third of fulltime workforce
By IBI Magazine
Riviera announced today that it would cut 157 permanent fulltime staff, or about a third of its workforce. The staff were notified on Tuesday of the redundancies. "Riviera will now be in better shape to weather the current economic conditions and to meet the ongoing demand for quality Riviera products," said Chris Campbell in a statement. Campbell, a partner in Deloitte, was appointed receiver and manager on May 8th. "Under the new structure, production and ongoing trade with suppliers will continue, including the orders placed during last week's Sanctuary Cove Boat Show," said Campbell. Riviera's dealer, service and support networks will be unaffected by the job cuts. Wages for the displaced workers will be paid to date, said Campbell, but the builder would not have funds to pay employee entitlements. "The staff have continued to operate on a business as usual basis under enormously difficult circumstances," said Campbell.
(26 May 2009)
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