Redundancies are expected at ACE Winches
Sources within Ace Winches have confirmed numerous changes to the business since the return of Alfie Cheyne as CEO in mid-November.
Following the exit of the management team on the immoderate return of the new board, we have received reports the HR team have been replaced in the past week and news of an additional 25 redundancies.
Employees claim around 25 jobs are planned to be cut from the Turriff facility.
Redundancy meetings are currently taking place, and an employee told OGV Energy that the process should be completed by Thursday of this week.
In response the following statement was released from ACE Winches:
Today (November 30) ACE Winches has announced a restructure as the business transitions itself to address new markets and new geographies to compete within the changing energy sector. The restructure will provide a strong platform for the future of ACE Winches.
However, as part of this process, we must regrettably consider potential redundancies. This decision has not been taken lightly.
We are proposing to make approximately 16 positions redundant across several departments at our global headquarters in Turriff, Aberdeenshire. We currently employ 155 people at this location.
At the moment, our proposals are only at a formative stage, and we will now begin a process of consultation. The process will be fair and transparent and will of course comply fully with company policy and UK Employment Law.
As part of Balmoral’s share purchases in 2017 and 2019 the Cheyne family had an option to buy back Balmoral Group’s investment.
Published: 01-12-2021
