Without venturing into the politics or economics of it or analysing it in any way, my gut reaction to this story is great sadness. Here go ordinary jobs for ordinary people. What indeed do they do now? There are not many ordinary jobs for ordinary people left.
Bonds owner and clothing manufacturer Pacific Brands says it will cut 1,850 jobs in Australia over 18 months after posting a $150 million first-half loss and suspending its dividend.
The cost-cutting will see Pacific Brands close the majority of its Australian clothing and manufacturing operations, discontinue small labels and brands, and sell properties or relocate.
The company’s brands include Bonds, Holeproof, Jockey, King Gee, Hard Yakka, Dunlop and Clarks.
A total of 1,200 manufacturing jobs and 650 non-manufacturing jobs will go.
The site hardest hit by the cuts will be the Hosiery factory in Coolaroo, Victoria, where 298 jobs have been lost.
Jobs will also go at Bonds plants in Wentworthville, Unanderra and Cessnock in New South Wales.
There will be more cuts at Holeproof in Nunawading, Victoria, King Gee in Bellambi, New South Wales, and CTE in Brisbane’s West End.
Off to China go the jobs. Admittedly most of them were there already, but you figure the multiplier effect of 1,850 jobs taking into account families involved.
A sad day.