BREAKING NEWS - Jobs go at Coomera in Riviera shakeup

BREAKING NEWS - Jobs go at Coomera in Riviera shakeup

Embattled Australian luxury boatbuilder Riviera today shed about one-third of its staff at its Coomera, Qld, head office and production facility as part of the restructuring of the company by the receivers.

a total of 445 permanent fulltime staff, one-third
were made redundant following the receivers and managers of Riviera, Deloitte partners Chris Campbell, Vaughan Strawbridge and Richard Hughes, implemented the restructure at the Coomera plant.

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

“The staff have continued to operate on a business-as-usual basis under enormously difficult circumstances. The receivers and managers have been grateful for the patience shown by staff while we have thoroughly investigated the options available,” Campbell said.

As foreshadowed at the time of their appointment on May 8, the receivers said they have started the toughest part of the restructure of the manufacturing facility and head office at Coomera. The business’ extensive dealer network continues as normal they added, and that the service and care to Riviera customers is also unaffected by the restructure.

“Riviera will now be in better shape to weather the current economic conditions and to meet the ongoing demand for quality Riveria products,” said Campbell. “Under the new structure, production and ongoing trade with suppliers will continue, including the orders placed during last week’s Sanctuary Cove (International) Boat Show.”

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

At the general employee meetings held by receivers at the commencement of the receivership, Campbell apparently advised staff that restructure planning would take at least a couple of weeks. It is understood 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.