The building materials group is making workers redundant before Christmas as it struggles with what it claims is “a perfect storm” of falling demand and soaring costs.
James Hardie Industries is cutting hundreds of jobs globally and making workers redundant before Christmas as the building materials maker struggles with what it claims is “a perfect storm” of falling demand and soaring costs.understands around 100 jobs will be cut in the Asia-Pacific region, mostly in Australia, with employees receiving redundancy notices before Christmas.
in 2023, are believed to be in the hundreds across James Hardie’s operations in the US, Europe and Asia. The company said it was expecting a cyclical downturn in 2023 driven by “macroeconomic uncertainty, aggressive inflation growth and rapidly rising interest rates”.“This combination is creating a perfect storm of lower-than-expected demand coupled with higher-than-expected input costs, which is putting significant pressure on our current and future financial returns,” the letter said.
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