27/04/2016 - 13:48

Brierty cuts staff, promotes Buswell

27/04/2016 - 13:48

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Former state treasurer Troy Buswell has been promoted to chief financial officer at civil and construction contractor Brierty, which today annunced that 14 positions have been made redundant as it seeks to shave costs.

Brierty cuts staff, promotes Buswell
Troy Buswell has become chief financial officer of Brierty.

Former state treasurer Troy Buswell has been promoted to chief financial officer at civil and mining contractor Brierty, which today annunced that 14 positions have been made redundant as it seeks to shave costs.

Mr Buswell will add CFO to his current role as general manager commercial at Brierty, replacing Ian Sydney, who was one of the 14 employees to be made redundant.

Mr Sydney’s other role as company secretary will be filled by current general counsel Mark Davies, while general manager mining Ray Bushnell will take on a wider operating role.

The 14 redundancies involve office staff, and are expected to realise about $3 million in annual savings.

Brierty has established an expenditure review committee which includes senior managers and board members, to identify further measures that will deliver cost efficiencies across the business, and has also suspended major capital expenditure,” Brierty said in a statement.

The cutbacks follow news last week that Brierty was looking at a $15 million cost-blowout on a deal with Main Roads Western Australia, and also flagged a $6 million net loss for the 2016 financial year.

Brierty shares were 3.8 per cent lower to 12.5 cents each at 1:45pm.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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