BRADLEY Industrial Textiles is laying off 1.8 per cent of its workforce as it closes two factories, including one in Barangaroo.
Key points:The company said it would close the Barangaro plant and the Sydney plant and close all other plants across its supply chain in the next six monthsThe company is looking for a new supply chain partner for its Sydney-based facilitiesThe closure of the two factories in Baradoora is expected to reduce the company’s manufacturing capacity by 800 jobsWorkers at the Sydney-area facility are being offered an employment contract worth $1.25 an hour with an option to work a minimum of five days a weekThe company confirmed that it had laid off 1 per cent or 1,198 people in Baratundra and the two manufacturing units in Barambah.BRADLEY said it was laying off one-quarter of its total workforce, including 1,700 staff in Sydney, in order to “accelerate” the transition to a new business model.
Key Points:The closure will cut down on manufacturing capacity at the Barambaa plant and reduce the number of jobsIt will also affect the workforce at the Perth-based facility and other parts of the supply chainThe company announced in October that it was closing the Sydney and Baradurra factories and the Baragwanan plant in Barawatra.
It said the closures were needed to address “the business challenges of rapid growth, shifting manufacturing roles and changing customer demands”.BRADLYN, Australia – The industrial apparel company Bradsley Industrial Textile is laying down its workers.
The company has announced in November that it would lay off some 1,400 workers in the manufacturing units at Baradaroo and Barangoora, in northern NSW, as it seeks to modernise its business.
The announcement comes on the heels of the company announcing last week that it is to lay-off 1,800 people from its operations in the Perth and Sydney manufacturing units.
The closures come as the Australian Industry Group (AIF) said that the business had grown by more than 2 per cent year-on-year in the 12 months to June.
The AIF said that manufacturing capacity has grown by 2.8% to a record 2,900 employees.
Bridley Industrial said it had been forced to close two facilities and cut the workforce by 800 workers in 2017.
The Barambaba and Baratunda facilities, located in the Hunter Valley, were closed.
The Sydney facility closed on November 1, while the Sydney site closed in November.
A company spokesperson said that there were no immediate plans for a restructuring.BRADSLEY’S MENTIONS The company’s CEO, John Bradshaw, has spoken publicly about the business’s challenges and has previously spoken about the importance of investing in new suppliers.
The head of Bradsleys Sydney and Sydney operations, Chris O’Connor, has previously indicated the company is considering closing two manufacturing sites in Baraboo.
A spokesperson for the Sydney factory said that it has been closed since June, while its Barabao plant will close on December 1.
The Bradskiem plant was closed in September.
A Bradskem spokesperson said the company has been “working hard” to reduce costs and increase productivity in the two operations.BRIDSLEY’s CASHFLY BRADLYNs cash flow is down more than 30 per cent since it entered the market, but Bradshaw has said it is still “very profitable”.
Bridleys cash flow in the third quarter of 2017 was $9.7 million.
Its net debt was $4.3 million at the end of June, down from $11.1 million in the fourth quarter.BRIDLEY’SMARKETS BRADSHEEWS BRADSYNCED FOR ‘THEY’It is no surprise that the company, which employs about 7,000 people in the Australian capital, is looking to improve its cash flow, as Bradshaw recently said.
The spokesperson said Bradsby’s business was “not for everyone” and its focus was on investing in suppliers and manufacturing “to better deliver for its customers”.
“Bradsley continues to invest in innovation, to deliver better value and for customers to benefit,” the spokesperson said.BRASSYNCING FOR ‘YOU’Bradsby recently released its latest operating profit report.
It revealed that it made $1 billion in profit last year, compared with $1 million a year earlier.
It also reported an operating loss of $823 million, compared to a $1,838 million loss a year ago.
In its fourth quarter financial results, Brads by Brads announced that it saw a $2.6 million boost to its net profit.
“Our cash flow was down more that 30 per per cent,” it said.