Metricon

2022 - 8 - 2

Post cover — Image courtesy of "ABC News"

More building companies to 'topple over', as display home giant ... (ABC News)

Key points: Metricon has told its workforce that it is "restructuring"; More than 200 jobs are set to go; Concerns are continuing about Australia's construction ...

"With the current headwinds buffeting the industry, specifically labour costs due to competition for skills, combined with present global materials cost hikes and with our very strong existing pipeline of work, we need to carefully balance the pipeline of new builds with the construction side of the business," he said. "Pinched household budgets, deteriorating credit availability, rising build costs and lengthy delays are set to further drag on new home demand over the next 12 months," Ms Kilroy said. The issue collides head-on with rising interest rates, which impact consumer sentiment and the ability of Australians to take out loans to build new homes or renovate their properties. "Already the construction sector as a segment of the total economy for administrations has increased a lot over the last two years." "We are working to restructure our front end of the business given the current climate and the need to move forward more efficiently," he said. "And we expect the build costs to remain elevated for another 12 months.

Metricon: Construction giant tells dozens of staff they will be sacked ... (Daily Mail)

Building giant Metricon has fired dozens of its sales staff via an online video chat as the company confirms it is in the middle of a restructure and will ...

Under the proposed structure, the number of new home advisors will be reduced to 18.' 'This is necessary to ensure we remain competitive in both the short and long term. The review was not undertaken lightly and has resulted in proposed changes to the current structure of the team. In a Microsoft Teams video call, Metricon announced it would cut its NSW sales team, which is roughly 60 employees, down to 18 and would terminate 15 trainee sales consultants In a Microsoft Teams video chat on Monday, Metricon told its staff it would cut its NSW sales team, which is roughly 60 employees, down to 18 and would let go 15 trainee sales consultants. Building giant Metricon has fired dozens of its sales staff via an online video chat as the company confirms it is in the middle of a restructure and will shed jobs.

Metricon: The building contractor notifies dozens of employees on ... (Nokia News)

Metricon informed its staff via a Microsoft Teams video chat on Monday that it would eliminate 15 trainee sales consultants from its NSW sales team, which ...

We are working to restructure our front-end of the business in light of the current situation and the requirement to proceed effectively. According to news.com.au, Mr. Shorten stated, “We have undertaken an important review of the sales team in order to better accommodate and reflect the requirements of the current market and ensure the most appropriate deployment of resources.” David Shorten, the NSW state sales manager for Metricon, is said to have read a statement to staff explaining that the choice was “not made lightly” but was made in consideration of the organization’s short- and long-term objectives.

Construction giant sacks 225 workers (NEWS.com.au)

Metricon has unceremoniously sacked the majority of its NSW sales staff via Microsoft Teams in the latest grim sign for the struggling firm.

We are committed to looking after any of our people who may be impacted by these proposed changes, and they will continue to have ongoing access to the company’s support and mental health services.” “Our future construction pipeline shows no sign of slowing with more than 600 site-starts scheduled for 2023,” he said. “We have commenced a consultation process with our people. The review was not undertaken lightly and has resulted in proposed changes to the current structure of the team. “This is necessary to ensure we remain competitive in both the short and long term. Stream more business news live & on demand with Flash. 25+ news channels in 1 place. Under the proposed structure, the number of new home advisors will be reduced to 18.” “We have previously said that our company has a proven history of success and remains profitable and viable, with the full support of our key stakeholders – this remains the case today,” he said. New to Flash? Try 1 month free. “To better accommodate and reflect the requirements of the current market and ensure the most appropriate deployment of resources, Metricon is working to appropriately reduce its sales and marketing capability while it focuses on the construction and delivery of more than 6000 homes,” a spokeswoman said in a statement to news.com.au. “With the current headwinds buffeting the industry, specifically labour costs due to competition for skills, combined with present global material cost hikes and with our very strong existing pipeline of work, we need to carefully balance the pipeline of new builds with the construction side of the business,” Mr Langfelder said in the statement. “To better accommodate and reflect the requirements of the current market and ensure the most appropriate deployment of resources, we have undertaken an important review of the sales team,” Mr Shorten said in a statement read out in the Teams meeting.

Australia's largest home builder to cut 100s of jobs (Mortgage Professional America)

Metricon acting CEO Pete Langfelder confirmed that the building giant is undergoing an internal restructure of its business, The Australian reported. The ...

We are committed to looking after any of our people who may be impacted by these proposed changes, and they will continue to have ongoing access to the company’s support and mental health services.” Metricon acting CEO Pete Langfelder confirmed that the building giant is undergoing an internal restructure of its business, The Australian reported. Several companies, including household names such as Probuild, have collapsed.

Metricon to cut workforce by 9% as inflationary pressures and a ... (SmartCompany.com.au)

Hardship continues for Australia's largest home-builder Metricon, which has revealed plans to cut 9% of its workforce as inflationary pressures batter the ...

The whole purpose of the Australian Building and Construction Commission was to lift productivity in the construction sector. Given the tidal wave of new building projects launched through 2020 and 2021, “we need to carefully balance the pipeline of new builds with the construction side of the business”, Langfelder said. Langfelder cited a trio of factors for the decision: the cost of labour in an incredibly tight jobs market, the soaring price of essential building materials, and a “very strong” pipeline of work in the future.

Housing industry: Metricon to cut staff by 9 per cent, home building ... (The Australian Financial Review)

Confidence is weakening in construction – and particularly in detached house building – raising the pressure on builders such as Metricon, which said it ...

“This has not yet materialised in slowing sales or approvals of new homes and there is still a large volume of building work in the pipeline to complete. The PCI, published by Ai Group and the Housing Industry Association, shows housing activity weakened for a third month in July. We are committed to looking after any of our people who may be impacted by these proposed changes, and they will continue to have ongoing access to the company’s support and mental health services.” Ongoing tightness is keeping up the pressure on all home builders, with the country’s largest, Metricon, announcing it will slash 9 per cent of its 2500-strong workforce, mainly in sales and marketing roles. New mortgage lending shrank at the fastest pace in more than two years in June, according to separate official figures published this week. Borrowing costs rose for a third month and surging input costs showed little sign of easing, the latest Performance of Construction Index revealed on Wednesday.

Metricon Culls 200 Staff Under 'Internal Restructure' (The Urban Developer)

Metricon has announced that they will cut 225 staff as part of an internal restructure, mere months after founder Mario Biasin died and acting chief ...

Biasin died in May aged 71 after confirming that contracts would be renegotiated after complaints to The Urban Developer that Metricon wasn’t honouring contracts. Affected employees were also told that they had until noon on Wednesday (August 3) to offer any feedback and thoughts on the proposed structure and that staff would know by the end of the week if they were being made redundant. Staff were told that the company management would be looking for redundancies in order to internally restructure the company to allow it to move forward.

Metricon

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