Thousands of staff cut as top companies ‘go through hell’

 

Thousands of jobs have been wiped from Queensland's top 72 private companies after the COVID-19 pandemic wreaked havoc on the state's businesses.

Data collated by IBISWorld and analysed by The Courier Mail reveals how some of Queensland's major companies recorded a significant contraction in their workforce in the 2019-20 financial year.

The workforce at Sunshine Coast-based Pacific Motor Group was cut by 63.4 per cent.

IBISWorld data reveals the group, which operates three car dealerships at Currimundi, Noosa and Maroochydore, has just 45 staff.

The reduction comes despite Pacific Motor Group recording a staggering 45 per cent growth in revenue to $180m.

BBQSam, the parent company of Barbecues Galore and Amart Furniture, saw its workforce cut by 60.6 per cent to 1351 employees.

The Rochedale company previously had about 3000 employees throughout Australia.

Queensland's top private company Hutchinson Builders also significantly cut its workforce, IBISWorld data reveals.

Hutchies, which recorded revenue of $2.9bn in 2019-20, recorded a 22.5 per cent drop in the number of employees to 1390.


IBISWorld Senior Analyst Jason Aravanis said COVID-19 in the second half of the financial year had affected the revenue and employee numbers at most companies.

"Everything went to hell in the final quarter basically," he said.

Transport equipment manufacturer EGR Group cut its workforce by 27 per cent to 189 workers.

Hundreds of employees were also lost from the books of food manufacturer Teys Australia.

Its workforce was cut by 15.9 per cent to 3891 staff.

Health and aged care companies Mater and Bolton Clarke were listed among Queensland's top-employing companies.

Mater's workforce grew 1.4 per cent to 5459 while Bolton Clarke's staff numbers contracted 2.5 per cent to 4175.

Job losses at many of Queensland's private companies were offset by increases at others.

Black coal miner QCoal increased its workforce by 26 per cent to 57 staff while 177-year-old agricultural company Mort & Co grew its business by 22 per cent to 166 employees.

Originally published as Thousands of staff cut as state's top companies 'go through hell'



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