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A family owned and managed non-ferrous foundry and engineering works employing 90 staff on 2 sites had begun making losses. A turnaround in fortunes was essential to avoid collapse. Staff appraisals and a full review of business systems were therefore implemented revealing the key problem areas to be addressed.
New, integrated works management and accounting software packages were introduced and a number of key management personnel replaced. Through an open process a trusted dialogue with all workers was created allowing union agreement to a limited redundancy programme without adopting a last in first out approach, and there were no applications for unfair dismissal. A full-time Marketing and Sales Manager was appointed to rebuild and expand the company’s client base.
The company turnaround was successful, soon becoming profitable, and the owners were able to successfully sell their business whilst safeguarding the remaining jobs. The business has continued to grow.
Contact Mistral Associates Today
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Talk to our specialist advisors on 0114 3993985 today for your free and confidential first discussion about Business Growth or Business Transformation tailored to your business, or click here: Contact Mistral Associates
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