Back to Work at Billdidit
Sydney drum hardware designer Billdidit is resuming operations with a reduced workforce of five, today.
The company laid off about 16 workers on August 28th due to cash flow problems.
Its board of directors says Billdidit still has some serious challenges ahead but adds it’s confident in its go-forward strategy.
It says the strategy includes a significantly lower cost structure and a more strategically focused sales effort.
Last month’s layoffs came after Billdidit announced a 1.5 million dollar expansion plan in June.
The board says it hopes to get the entire project back on track with ongoing support from the company’s lending partners.
ACOA and Nova Scotia Business Inc. have each loaned Billdidit half a million dollars along with its parent company Sabian.