Austal Ltd managing director Bob Browning said there are no plans for further staff cuts after the company laid off over 100 workers at its Henderson shipbuilding facility.
Mr Browning told WA Business News he believes the company is now on a stable footing after 109 employees, 75 per cent of them foreign workers, were told of the staff cuts. Mainly fabricators and welders were affected.
He added that staff were notified late yesterday, before a front page article on the redundancies was published today.
He said if the article had not been published, the company would have waited or few more days or even weeks.
"We take this very seriously from the perspective of the employee and we want to make sure they get compensated with the proper redundancy package, and we've accelerated the payment of the profit sharing that would have been made in December," he said.
Mr Browning said the global economic turmoil had delayed the decision making process for its customers, mainly ferry operators, which were finding it harder to get access to finance.
The company had a workforce of around 1200.
The state government has offered assistance to affected Austal workers.
Meanwhile, Mr Browning said the company's US arm, which focuses on the country's military, was going well.
He added the US division should hear from a couple of large contracts over the next few months.
