Mattress brand Sealy Australia has reportedly made “many staff” redundant across the country as it battles losses from factory closures in China and challenges in Australia.
Yahoo Finance understands staff have been let go across the entire business as retail sale losses and factory closures bite.
A source revealed the company held emergency meetings on Monday with senior management before implementing the redundancies. According to reports, all casual workers in NSW have been made redundant while the Queensland bedding plant also saw redundancies. Yahoo Finance also understands further cuts are to come in Victoria.
Sealy Australia employs 750 staff across Australia.
Sealy declined to comment when contacted by Yahoo Finance.
It comes as many companies across Australia, including Qantas, battle the economic fallout of Covid-19.
And, China’s PMI – purchasing managers’ index - recently fell to a record low, indicating the weakness of its manufacturing sector.
More to come.
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