Initially, the company had been confident of avoiding industrial action, however was forced to issue a statement two days later that action would be unavoidable.
“The company regrets the initiation of illegal industrial action for 48 hours at our printing plants at Spencer Street and Tullamarine. The company will take all appropriate legal and commercial actions available to it,” says Fairfax.
Fairfax says that 86 maintenance and printing employees will be made redundant through the closure. It expects to realise net annualised savings of at least $3.5m, although it will experience a net cost of the closure in the second half of fiscal 2004 of between $6m and $10m.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at firstname.lastname@example.org.
Sign up to the Sprinter newsletter