BSL 5.69% $21.73 bluescope steel limited

nightmare on collins street, page-11

  1. 13,293 Posts.
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    What a joke.

    We have the i told you so's en masse gloating over what they think is their predictions coming true.
    Geez Andrew lucky for you we are in the midst of the worst downturn in living memory otherwise we would be looking at an SP of $15 instead of $3 and we would have missed out on your inciteful post......joke!!!!

    As for the "what are they doing" crowd.
    BSL ARE closing down marginal operations but the idea of a mass restructure is ludicrous.

    At this time there is no redundancy available at Bluescope.
    Contractors are being cut and Bluescope workers are moving in on these jobs to keep capital inhouse.

    Spending is being cut to the bone.

    The mentality in the past of reducing labour when times are tough is gone as only contractors are being cut and management realise the value of their own employees.

    BSL know when the turn around happens they need a skilled workforce so they are doing everything possible to retain them.

    China and Russia are dumping cheap substandard steel on world markets, where BSL were previously competetive.
    The domestic market is mostly all BSL have.

    Production is being scaled back.

    Workers are being asked to take time off..holidays ,long service....

    Five day weeks might even be next.

    So all those who say "what's the plan" know nothing of what's happenning in the real world and rely solely on the outdated ideas of the past.

    Make no mistake about it times are tough but i bet Bluescope will be left standing leaner and meaner when markets get back to normal.

    So yes BSL do have a plan


 
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