More big job losses at Riviera - no entitlements being paid

3:26 AM Mon 25 May 2009 GMT

'The giant production facility and marina of The Riviera Group' Riviera Click Here to view large photo

The Receivers and Managers of Riviera, Deloitte partners Chris Campbell, Vaughan Strawbridge and Richard Hughes, have today implemented a major restructure of the Gold Coast (Australia) Coomera production facility.

At the general employee meetings held by Receivers at the commencement of the receivership Campbell advised staff that restructure planning would take at least a couple of weeks. He also informed staff that the receivers' team and key management were working on the restructure and that the necessary change would result in head count reduction.

Today, with Sanctuary Cove Boat Show behind them, the axe fell and as a result, of a total of 445 permanent full time staff, approximately one third of staff have today been made redundant. (157)

While current wages for these staff will be paid to date, Campbell expressed his regret about not having the funds within the business to pay holiday pay and other employee entitlements.

'Service and care to Riviera customers is unaffected by the restructure' says Campbell. 'The business' extensive dealer network continues as normal.'

He continued 'Riviera will now be in better shape to weather the current economic conditions and to meet the ongoing demand for quality Riveria products. Under the new structure, production and ongoing trade with suppliers will continue, including the orders placed during last week's Sanctuary Cove Boat Show.'

Campbell says the restructure is not expected to cause delays in boat production for Riviera clients.

'The staff have continued to operate on a business as usual basis under enormously difficult circumstances. The Receivers and Managers have been grateful for patience shown by staff while we have thoroughly investigated the options available,' he said.

by MarineBusinessNews.com

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More big job losses at Riviera - no entitlements being paid

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