Alexi Hesith
Feb 9th, 2016, 07:45:30 AM
For some people it began with dramatically bad news...
GTS Announces Layoffs
Todin, Picon- Gorlex Transportation Systems General Chairman Seamus Broder announced a series of layoffs in the shipbuilding and maintenance divisions. Speaking to major shareholders and the trade media, Mr Broder said, "In the current climate, the building and maintaining large ships is just not profitable enough. We will be reducing our work in these areas and refocusing on small and medium size vessels. GTS will continue to innovate while maintaining the very highest standards in design and function for consumers while generating significant profits for investors."
It is understood that redundancies will total 10,000 posts, the majority to be implemented within weeks. The market is expected to respond favourably to this retrenchment.
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Apparent Suicide Shakes Community
Palamra, Picon- Prominent business leader and community figure Xavier Marsh, 61, was found dead this morning in an apparent suicide. Mr Marsh, head of GTS Shipbuilding, is understood to have been suffering from nervous exhaustion following a major round of layoffs announced five weeks ago. An inquest is expected to be convened soon.
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Marsh Suicide: GTS Potentially Culpable
Palamra, Picon- The district coroner delivered his finding in the Marsh inquest this evening. Dr Justus Kale found that Mr Marsh took his own life, as reported here eight weeks ago, as a result of extreme anxiety and depression brought on by the deteriorating situation in his professional life.
Speaking in evidence, Mrs Lucille Marsh, the wife of the deceased, said, "Xavier always tried to stand up for his guys, always. From his earliest days he was always going in to defend others. When he was promoted from the shopfloor, he kept on like that. No-one who worked for him would doubt that he took it hard when he couldn't even get them a decent redundancy package or notice periods. I honestly think it broke his heart."
The inquest heard evidence that Mr Marsh, who had worked for Gorlex Transportation Systems since he was sixteen years old, had clashed repeatedly with senior colleagues, including parent company boss Seamus Broder, in the run-up to the announcement three months ago that 10,000 jobs would be axed. Mr Marsh is understood to have first resisted the cuts and then accepted them on the proviso that certain compensation and support arrangements were put in place. These conditions were not met.
One witness, granted anonymity by the court, reported that staff were called from the dockside and told they would be leaving. In some cases, their colleagues did not see these dismissed staff members again that working day.
The coroner's key finding was given as follows.
"Mr Xavier Marsh was a man who took an unusual, even extreme, level of pride in his work. We have heard that he regarded one of his major roles to be that of protector of those working under him. His failure to protect those employees who were dismissed in the weeks prior to his death from financial hardship appears to have weighed very heavily upon him, to the point of disturbing the balance of his mind. I have no doubt that this disturbance of mind was greatly exacerbated by the conduct of the downsizing exercise carried out by Gorlex Transportation Systems and the way in which some involved in this process treated both him and his employees."
In a statement, GTS said, "Any suggestion that GTS was negligent in its responsibilities to either Xavier Marsh or his subordinates is in error. We will be disputing the coroner's findings."
Market analysts expect the share value of GTS to slide significantly in trading tomorrow.
GTS Announces Layoffs
Todin, Picon- Gorlex Transportation Systems General Chairman Seamus Broder announced a series of layoffs in the shipbuilding and maintenance divisions. Speaking to major shareholders and the trade media, Mr Broder said, "In the current climate, the building and maintaining large ships is just not profitable enough. We will be reducing our work in these areas and refocusing on small and medium size vessels. GTS will continue to innovate while maintaining the very highest standards in design and function for consumers while generating significant profits for investors."
It is understood that redundancies will total 10,000 posts, the majority to be implemented within weeks. The market is expected to respond favourably to this retrenchment.
---
Apparent Suicide Shakes Community
Palamra, Picon- Prominent business leader and community figure Xavier Marsh, 61, was found dead this morning in an apparent suicide. Mr Marsh, head of GTS Shipbuilding, is understood to have been suffering from nervous exhaustion following a major round of layoffs announced five weeks ago. An inquest is expected to be convened soon.
---
Marsh Suicide: GTS Potentially Culpable
Palamra, Picon- The district coroner delivered his finding in the Marsh inquest this evening. Dr Justus Kale found that Mr Marsh took his own life, as reported here eight weeks ago, as a result of extreme anxiety and depression brought on by the deteriorating situation in his professional life.
Speaking in evidence, Mrs Lucille Marsh, the wife of the deceased, said, "Xavier always tried to stand up for his guys, always. From his earliest days he was always going in to defend others. When he was promoted from the shopfloor, he kept on like that. No-one who worked for him would doubt that he took it hard when he couldn't even get them a decent redundancy package or notice periods. I honestly think it broke his heart."
The inquest heard evidence that Mr Marsh, who had worked for Gorlex Transportation Systems since he was sixteen years old, had clashed repeatedly with senior colleagues, including parent company boss Seamus Broder, in the run-up to the announcement three months ago that 10,000 jobs would be axed. Mr Marsh is understood to have first resisted the cuts and then accepted them on the proviso that certain compensation and support arrangements were put in place. These conditions were not met.
One witness, granted anonymity by the court, reported that staff were called from the dockside and told they would be leaving. In some cases, their colleagues did not see these dismissed staff members again that working day.
The coroner's key finding was given as follows.
"Mr Xavier Marsh was a man who took an unusual, even extreme, level of pride in his work. We have heard that he regarded one of his major roles to be that of protector of those working under him. His failure to protect those employees who were dismissed in the weeks prior to his death from financial hardship appears to have weighed very heavily upon him, to the point of disturbing the balance of his mind. I have no doubt that this disturbance of mind was greatly exacerbated by the conduct of the downsizing exercise carried out by Gorlex Transportation Systems and the way in which some involved in this process treated both him and his employees."
In a statement, GTS said, "Any suggestion that GTS was negligent in its responsibilities to either Xavier Marsh or his subordinates is in error. We will be disputing the coroner's findings."
Market analysts expect the share value of GTS to slide significantly in trading tomorrow.