260 Ostwald Brothers Workers No Longer Have Jobs

Payouts unlikely at this stage

 260 Ostwald Brothers Workers No Longer Have Jobs

Yesterday 260 Ostwald Brothers workers were let go but things only got worse for them when they were told that at this stage redundancy packages had not been confirmed.

There are now 140 staff who remain ‘stood down’ their fate depends on negations that could result in some projects continuing.

Redundant employees were informed of the administrator’s decision yesterday morning, ahead of information sessions which were attended by representatives from Centrelink, the Queensland Department of Education, and counselling services.

Price Waterhouse Coopers continue their investigation into company’s financial position, assets and liabilities, and will provide an update to creditors at the first creditors meeting on Wednesday September 6.