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Wednesday June 19, 2013

What we're talking about

  • Richard on Beattie calls on Hawke Bob, if you want to help improve the ALP's chances of winning at least one seat, it would do you and the PM well to stop ... more
  • kernel fudpucker on Beattie calls on Hawke Gee I wonder if September will bring in the New World Order and the Satanic global leader, The Antichrist! more
  • Bob Lord on Meagher killer gets life Sometimes I don't get it. The Judge says "I have no choice but to sentence you ....."I'd be saying "It gives myself and the ... more
  • Bob Lord on Holden strives to slash This is just responsible standard business practice. A company going through tough times works through the issues that ... more
  • Richard on Holden strives to slash Australias Toxic FutureThe gap needs to be reduced between what it costs to build and import a car and what it costs to ... more
  • Commerce American Style on Holden strives to slash First they send American multinational companies to crush the small to medium Australian companies. That reduces competition ... more
  • Bob Lord on Beattie calls on Hawke DEEP UNEASE IN COALITION RANKSWhile they all look calm on the outside as they seemingly ride a blessed wave of media support ... more
  • James W on NSW Rugby League scandal karma, I think the less thinking you do, the better. more
  • CRY FREEDOM on Beattie calls on Hawke Bob Lord, it good to see that you have source nutter web sites to gather your information. more
  • CRY FREEDOM on Beattie calls on Hawke Bob Lord, if it is true what the flying pigs have to say that the polls show that Abbott is most deeply unpopular Opposition ... more
  • bazza on Beattie calls on Hawke The liberal party announce today for the good of public health. that when they win the election they will lock up all ... more
  • Mike Young on NSW Rugby League scandal Does anyone know what is happening re the Ben Teo allegations/case? Seems to have gone awfully quiet. Brisbane police seem ... more
  • Bob Lord on Rudd mistaken for PM Oh what a pity I'm busy today. This has been a scream. First Peter B - "make him stop, make him stop" Then Gayle in her ... more
  • Bob Lord on NSW Rugby League scandal James WLOL - you're right.QPS have really dropped the ball with the Burgess arrest. Focus, lads, focus. more
  • Peter B on Beattie calls on Hawke Bob Lord, will you please refrain from continually kissing Labor Butt and just admit they are LOST, will be and are for a ... more
  • Peter B on NSW Rugby League scandal Bob Lord, posting as other Imbeciles still and stuttering as well, get back on your meds sport and by the way your point of ... more
  • Gayle on 'Menu never left the kitchen' Far from miffed Harry just disgusted that you feel it is appropriate to giggle at any woman being denigrated, sure your wife ... more
  • Peter B on Beattie calls on Hawke Bob Hawke was one of the Best PM's Australia has had as for the rest of that crew in the photo Absolute Clowns. The Labor ... more
  • GO NOAHHHH!!! on One punch can thrill? Bob atkinson folks, here can I put my punch worth in or do I have to get permission, when to hit from the gold coast ... more
  • karma for the hispo lover on NSW Rugby League scandal Who the hell would drink in public under CCTV nowadays.It's a wonder how hotels, clubs etc haven't gone broke and those that ... more

Boral cuts 700 jobs

Posted by: Staff writers | 16 January, 2013 - 10:40 AM
Boral

4BC News: Shares in building products maker Boral have hit an 18-month high after the company announced 700 job cuts as part of a company-wide restructure.

Boral will make 700 redundancies from all levels of its business - from executive level down to its manufacturing businesses - a move it expects to save $90 million a year.

Chief executive Mike Kane said on Wednesday it was time "to make some tough decisions" to increase the company's competitiveness in challenging times.

"This is a great company, with a great history and great potential," he said in a statement.

"However, over time, it has become burdened with excessive overhead costs.

"While this may be less obvious during the good times, it becomes critically exposed when times are tough."

Boral shares were up 22 cents, or 5.05 per cent, at $4.58 at 1013 AEDT, their highest level since June 2011.

The Australian job cuts equate to just over eight per cent of Boral's local workforce.

Of the 700 redundancies, 200 have already occurred, and the remainder are expected to be completed by March.

Other recently announced moves to outsource production take Boral's total job cuts in the 2012/13 financial year to 1,000.

Boral says it expects redundancies to cost it $60 million in the 2012/13 financial year.

The company makes building products for homes such as bricks, roof tiles and doors, as well as materials for larger construction projects, such as concrete and stone.

It has been under financial pressure due to a prolonged slump in housing construction and delays to major construction projects.

Boral's earnings in its Australian operations in the 2011/12 financial year were down 29 per cent from the previous year.

The restructure comes after Mr Kane's 100-day review of Boral, which he began soon after his appointment in September 2012.

It also includes the removal of several senior executives, including the managing director of its cement business Mike Beardsell and building products managing director Bryan Tisher.

Blog comments Your Say

  • Mick and Jackie, remember Bob Lords look on life is that he could not really care about the rights and wrongs of it all.

    CRY FREEDOM Wednesday 16 January, 2013 - 9:43 PM

  • Wow, a cynic may think that it's a 'pearler' of a way to advance the share price.

    roger Wednesday 16 January, 2013 - 8:24 PM

  • The jobs are falling off 700 here a thousand there on and on it goes. You are correct Jackie these other two whackos have to try and defenend the lies and deception they will say anything.

    mick Wednesday 16 January, 2013 - 4:58 PM

  • Oh James W
    Another one that always "knows" someone.

    Bob Lord Wednesday 16 January, 2013 - 3:32 PM

  • That's what you think, they will be queing to get what they can while they can..I have an insider that knows a lot more than you do so seen it first hand james/bob

    Jackie Wednesday 16 January, 2013 - 2:09 PM

  • Jackie, these people are being paid to leave. No unemployment benefits for them.

    James W Wednesday 16 January, 2013 - 1:20 PM

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