A brisbane air conditioning manufacturer has slashed more than 150 jobs after being forced into voluntary administration.
Siganto & Stacey – which has worked on key projects including the new Australian Taxation Office Brisbane headquarters, Robina Hospital extension and Prince Charles Hospital upgrade – broke the news to staff this week.
The 46-year-old company’s construction arm has closed, assets will be liquidated, but its building services business will continue to operate.
Sacked workers were briefed on entitlements and allowed to collect personal items yesterday morning.
In an email sent to staff on Monday night, company CEO William Siganto described his “bitter disappointment”.
“There have been difficult projects, delays and confrontation,” Mr Siganto wrote.
“We have also invested heavily in bidding on new jobs which have either not been awarded or were offered on commercially unreasonable terms.”
“Sadly, I have to tell you that the Siganto family believes the business is no longer viable.”
Mr Siganto goes on to write:
“You should know that I and the family (sic) have done everything we personally could to avoid this situation but that we don’t feel there is anything more we can do. As a family, we…
