Layoffs likely post completion of the deal.
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Layoffs now being announced!
SO MANAGEMENT DO READ THESE PAGES
Glad I could help.
Thanks for the post below Peter, very insightful.
Income from services needs to cover costs (wages and building) else it’s not a viable ongoing business. The industry has drastically changed over the last 10 years with less demand for traditional geo-services. Robertsons will have to adapt to ensure profitability. Let’s hope the new management have the vision to turn things around, else it’s going to be a rocky road ahead.
This is cost cutting. Viridien will save on paying 70 staff wages plus they no longer have to maintain the building they are in.
As it's the season if good will, let's try and be positive and believe this is a good move rather than spread negative rumours about redundancy packages.
The only surprising aspect of this deal is that it took so long. The real value of the ‘sale’ (likely for a nominal fee) is that it will avoid Viridien being on the hook for the inevitable redundancy packages.
Ah, the geology of it all, strata upon strata, folding into a deal as opaque as shale, the transaction itself a faceless specter. Robertson, once a bastion of rock-solid purpose, now metamorphosed into an asset, faceless and fungible, passed like an errant pebble across hands unseen. And yet, below the surface, tectonic tremors stir—layoffs, the human sediment, sifted and discarded. Post-completion, the deal complete, but for whom? One cannot help but feel trapped in an endless corridor, where every door opens to another question, and the only certainty is the persistent, oppressive hum of inevitability.