Solomon Lew-owned toy and home goods distributor PlayCorp has told its St Kilda Road office that it will sack 20% of its 100 staff as sales crash.
Sources within the company tell VEXNEWS that despite the company’s terrible performance and 20% job cuts, Stevie Lew, the owner’s son (pictured below leaving the Federal Court), will be keeping his job as Managing Director, with a $200,000 company vehicle and a massive salary well above toy importer industry norms.
Although, if rumours within the Jewish community are correct, Stevie, who was once maliciously accused of wearing a hair-piece, has also decided not to retain the services of his wife Sarah and recently born child, who cannot be named for legal reasons. Unkind gossips say he left them both shortly after the birth saying he “had other priorities.”
PlayCorp is not part of Solomon Lew’s Premier Investments vehicle which purchased Just Group prior to the credit crunch at a price that turned out to be at least $200 million over the odds.
Lew who constantly tells people – including his personal fitness coach Bambi – about his good timing is said to be extremely disappointed by the turn of events, kicking himself for not waiting til this year’s anticipated Christmas debacle in Australian retail.
Previous Playcorp exploits have included paying Chinese workers 80c an hour to make Commonwealth Games merchandise.
The misery and exploitation was exposed in a Sunday Herald Sun investigation following court appearances by Stevie Lew where he attempted to explain Playcorp’s breaches of its contracts with the Commonwealth Games by using ruthlessly exploited labour.