Global browsing firm Boardriders – makers of Billabong and Quiksilver – is axing 170 jobs, together with about 60 Gold Coast workers weeks earlier than Christmas.
About 110 positions within the northern hemisphere and about 60 within the Asia-Pacific area had been reportedly reduce final week as a part of a cost-cutting effort by the corporate’s homeowners, US non-public fairness agency Oaktree Capital Management.
In a press release revealed on motion sports activities business web site Shop-Eat-Surf, the favored browsing model introduced the cull was as a consequence of a “reorganisation of its global operations to enable the company to respond nimbly to the market and its customers in the face of an uncertain and changing economic landscape”.
Boardriders chief govt Arne Arens mentioned he was “confident” the modifications would construct upon the “success” of the corporate, which additionally homes surf manufacturers RVCA, Roxy, DC Shoes, Element and VonZipper.
“I am confident that these changes will set us on the path to achieving our goals and creating a more agile company suited to adapt to the evolving environment,” Mr Arens mentioned.
“Losing talented employees is always difficult and I want to recognise the departing staff for their contribution to Boardriders.
“Moving forward, we are fully focused on setting Boardriders up for success.”
Industry insiders informed the Gold Coast Bulletin on Tuesday that the job losses included a spread of departments within the Gold Coast-based workplace.
“It was brutal, especially just before Christmas” they mentioned.
“No one knew who was going to lose their jobs or keep them.”
Oaktree acquired Quiksilver, Roxy and DC sneakers in 2016 and Billabong and related manufacturers in 2018.
Originally revealed as Mass job cuts at Boardriders as US-based firm makes modifications
