Four day week to be extended at ACL?

31/05/2018 Posted by admin

WORKERS at Launceston car parts manufacturer ACL Bearings Co. could be asked to extend their four-day working week beyond the end of this month.About 270 employees agreed to scale back their hours in February to help the company survive a 30 per cent downturn in orders.Combined with a pay cut to managers and a reduction in work hours at the company’s Queensland and US plants, ACL is saving about almost $250,000 a month.The four-day agreement expires on June 30.“This Thursday, we will provide a more detailed briefing on our situation and the outlook for the next quarter together with a proposal for the extension of the certified agreement,” ACL chairman Ivan James said.ACL is also awaiting the sign-off of a $4 million loan from the State Government so that it can repay its $3 million debt to GE Finance, which is due by the end of the month.
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