tough market conditions

A major children’s retailer has gone bust after a bank appointed receivers to recoup their money. Last Tuesday, New Zealand business Bobux, which sells shoes for young children, collapsed. Conor McElhinney and Andrew Grenfell of insolvency…

A Melbourne businessman has thrown a failing construction business a last-minute lifeline, promising to save 800 workers by buying the company. Businessman Amit Miglani on Monday revealed he had submitted a bid to purchase Porter Davis,…

An ASX-listed mega building company is laying off 10 per cent of staff as the construction industry teeters amid tough market conditions. On Tuesday, Melbourne-based residential builder Simonds Group put out an ASX announcement with vague…

Staff have been terminated on the spot and weddings are believed to have been impacted after a popular Sydney flower shop collapsed. Last week, Eden and Bell, based in Surry Hills, went into voluntary liquidation. Eden and Bell provided…

The market downturn is taking its toll even on the most resilient Australian businesses as grocery giant Woolworths has revealed it will cut several dozen jobs. Woolworths is set to scrap 51 roles, predominantly Australia-based, as it shuts…

Yet another Australian start-up has joined a growing list of firms laying off staff en masse as they struggle during a “market correction”. In a LinkedIn post from earlier this week, one of the co-founders of food ordering and payment…

The ‘tech wreck’ just got a whole lot worse with Amazon announcing that 9000 jobs will be slashed. It comes just two months after Amazon cut 18,000 roles, back in January, which at the time represented six per cent of Amazon’s workforce and…

A former Google Vice President has spilt on what was an instant red flag for her whenever she conducted a job interview for a future candidate. After sitting through numerous interviews during her 10 year stint at the top tech firm, Claire…

When Australian mum-of-two Eleanor Meireles heard last year that US cryptocurrency exchange FTX had filed for bankruptcy, it barely registered. The business owner – from Sydney, on the other side of the world – did not use the exchange and…

Two Australian companies have laid off hundreds of staff members as tough market conditions continue to hit business hard. ASX-listed healthcare company Healius has cut 500 full-time roles since the Covid-19 pandemic started. That…