Founder and CEO of SEEK told The Age that the government’s plan to scrap the loan scheme for vocational training is costing them $8M.
"We have not done this in 19 years," he said. "It is the first time we have done any sort of redundancy program,” he said.
He noted it was "generous and above statutory needs".
So far staff has been reluctant to transfer from sales to service roles in other areas of the company.
But Bassat remains optimistic about the health of SEEK in spite of the loss.
"We are actually very pleased we had such good results relative to the economy. We will grow domestically regardless of what the economy does."