Citing the deterioration in global economies, Riviera has made 121 redundancies among contract and employed staff across the company’s entire operation.
Recently appointed CEO John Anderson said: “As a significant exporter and a major employer on the Gold Coast, Riviera must make responsible business decisions about its company structure. Reduced demand means we have no easy alternative to this course. Over the last 8 months we have constantly monitored and adjusted our business to reflect future market demand.
“800 staff remain employed at our Coomera facility and Riviera continues to be a robust company with a clear vision for the future. Our new models such as the 70 Enclosed Flybridge, 43 Offshore Express and 5800 Sport Yacht have created great interest and have generated multiple forward orders.
'The company is well positioned to respond to growing market conditions when they occur and will emerge from this current economic downturn an even stronger organisation.”
He said the employees affected today had been paid their full entitlement and offered a high level of support, counselling and career relocation advice including career planning, job seeking, resume writing and interview skills.