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1.Market Observations

17 Jan 2013 (AFR) – Construction sector scales back for lean times

(17 Jan 2013, AFR, p1, Michael Hobbs and Marianna Papadakis)

‘The building industry is cutting costs and shedding jobs amid pred­ictions that construction in Australia faces permanent structural change caused by the strong local dollar and a greater number of apartment ­developments.’

‘Boral announced on Wednesday that it will cut more than 700 local managerial and back office employees over the next two months, becoming the latest building materials ­company to “right-size” its workforce to reflect a lower level of building activity and a high Australian dollar.’

Read more at AFR.com (might need AFR login access – try registering for free at afr.com/summer)

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