Mass job cuts at Boardriders as US-based company makes changes

One of Australia’s most recognisable surf brands has reportedly axed jobs across all departments, leaving staff members scrambling.

Global surfing company Boardriders – makers of Billabong and Quiksilver – is axing 170 jobs, including about 60 Gold Coast staff weeks before Christmas.

About 110 positions in the northern hemisphere and about 60 in the Asia-Pacific region were reportedly cut last week as part of a cost-cutting effort by the company’s owners, US private equity firm Oaktree Capital Management.

In a statement published on action sports industry website Shop-Eat-Surf, the popular surfing brand announced the cull was due to a “reorganisation of its global operations to enable the company to respond nimbly to the market and its customers in the face of an uncertain and changing economic landscape”.

Boardriders chief executive Arne Arens said he was “confident” the changes would build upon the “success” of the company, which also houses surf brands RVCA, Roxy, DC Shoes, Element and VonZipper.

“I am confident that these changes will set us on the path to achieving our goals and creating a more agile company suited to adapt to the evolving environment,” Mr Arens said.

The former headquarters of surfwear giant Billabong – now owned by US-based Boardriders – at Burleigh Heads on the Gold Coast.

“Losing talented employees is always difficult and I want to recognise the departing staff for their contribution to Boardriders.

“Moving forward, we are fully focused on setting Boardriders up for success.”

Industry insiders told the Gold Coast Bulletin on Tuesday that the job losses included a range of departments in the Gold Coast-based office.

“It was brutal, especially just before Christmas” they said.

“No one knew who was going to lose their jobs or keep them.”

Oaktree acquired Quiksilver, Roxy and DC shoes in 2016 and Billabong and associated brands in 2018.