THE DISTILLERY: CSR squander

Commentators question the events leading up to CSR's layoffs, with one noting millions were wasted on poor asset purchases.

One hundred and fifty jobs were cut from CSR’s Viridian glass business yesterday as Chinese competitors and the expensive Australian dollar continued to bite. While the story is somewhat familiar to the broader manufacturing sector, two columnist this morning are asking whether these jobs should ever have been CSR’s to cut. Or to put it another way, what the hell were they thinking when the bought the business?

Fairfax’s Elizabeth Knight has the best handle on CSR’s history, so we’ll start with how a proud company managed to get into this mess.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles