Business

Boral announces widespread redundancies

An aerial photograph of the former Wagners quarry near Grantham which was sold to Boral in April, 2011.
An aerial photograph of the former Wagners quarry near Grantham which was sold to Boral in April, 2011. Kevin Farmer

BORAL has announced 700 job cuts to its Australian workforce, raising fears over future employment at its quarries and cement plants around Toowoomba.

The ASX-listed company announced the redundancies in a media statement this morning but details of where the jobs will come from have not been made public.

Prominent Toowoomba company Wagners sold its concrete division to Boral in 2011 for $173 million, consisting of high-quality quarries, 12 concrete plants, transport operations and a 60 per cent share in a fly-ash joint venture.

The change of hands included transferring 275 Wagners employees to Boral's stewardship, meaning no jobs were lost in the take-over.

Boral chief executive officer and managing director Mike Kane said the job cuts would save the company $90 million a year and $37 million this financial year.

"My 100-day review of the business highlighted the need to make some tough decisions," he said.  

"This is a great company, with a great history and great potential.   

"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."

Of the 700 redundancies, more than 200 have already been made late last year.  

The majority are expected to be completed by March.  

Boral Cement divisional managing director Mike Beardsell is set to leave the company at the end of the month.  

The company plans to close its clinker manufacturing facility at its Waurn Ponds cement plant in Victoria, leaving a "smaller, more focused cement business", which could be good news for staff in Toowoomba.    

Topics:  boral job cuts manufacturing quarries redundancies resources toowoomba



Last-gasp goal saves Ipswich team's Pride

Western Pride goal scorer Dylan Wenzel-Halls.

Substitute stars for draw specialists

Crash debris shut down motorway

Police say vehicle was travelling wrong way

10 jobs you can apply for right now

Job seekers read the job advertisements on large boards at the Ipswich Showgrounds where the Australian Government Jobs and Skills Expo was held today (140613). Photo: Claudia Baxter / The Queensland Times

Plenty on offer from across the region

Local Partners

Ben Stiller and Christine Taylor split after 17 years

BEN Stiller and his wife Christine Taylor have called it a day in a joint announcement.

Why The Voice hasn't produced a star

Boy George responds to Brittania Clifford-Pugh's heart-warming message.

It's the industry, not the show, says Boy George

These actors hated their movies and didn’t mind admitting it

Channing Tatum and Marlon Wayans in a scene from GI Joe: The Rise of Cobra.

Every year, Hollywood blesses us with plenty of God awful movies.

Miranda Kerr and fiance hang up backyard tent for wedding

The decorators and caterers are arriving for the final preparations for the wedding of Miranda Kerr and Evan Spiegel. Pictures: Splash

Evan Spiegel and Miranda Kerr are set to marry today

Book review: Mia Freedman's book meets her critics head on

I appreciated Freedman's blunt honesty in the book

Home town support spurs on Ipswich chef

CONTENDER: Judges have praised the work of Ipswich cook Ben Ungermann, who has avoided the dreaded elimination rounds.

Ben gets a little sweeter

Man's amazing comeback from monster crisis

Pat O'Driscoll agents Penny Keating and Doug Webber sold 56 Agnes St, The Range at auction over the weekend.

NOT long ago, he sold his possessions to pay staff. Now he's back.

Report reveals progress on $319m airport upgrade

Aerials of the Sunshine Coast.Jetstar plane in front of the Susnhine Coast terminal, Sunshine Coast Airport.

Over two dozen government approvals needed for airport expansion

Lost dough leaves sour taste after company collapse

Kathleen and John Mahoney from Sugar and Spice Bakery were stung after the collapse of Cantro Pty Ltd and are still owed money.

Supermarket operator collapse leaves sour taste for bakery

'Ridiculous': Council refuses renovation at heritage home

NOT FAIR: Karen Solomon of Newtown is angry with Ipswich City Council for refusing her plans to build a colonial style double car port at her Newtown home.

Council rejected development application

Council refusal of 'high density' development ends in court

Ipswich City Council first meeting with the new 2016 council.

Developer took the matter to the Queensland Planning Court

Ready to SELL your property?

Post Your Ad Here!