The group behind Skydive the Beach is looking to cut up to $6 million out of the company - but the Stuart Park operations are safe.
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Experience Co CEO John O'Sullivan unveiled the corporation's cost-cutting plans, which would include selling off a number of businesses as it looks to go "back to basics" and focus on its "core business" of skydiving.
"We have identified and found already on an annualised basis $3 million worth of costs which we'll move on before the end of the year," Mr O'Sullivan said.
"Then we are targeting to find another $2-3 million by the end of the financial year."
The review and cost-cutting comes after Experience Co lost $48 million, in part due to the poor performance of some North Queensland operations.
Those millions in planned savings will come in part from the sale of those North Queensland helicopter flight, ballooning and canyoning businesses.
But Mr O'Sullivan said some savings would come from "rationalising head counts" - aka job losses.
"It's a combination of letting people go and not replacing roles when people do go, when they've resigned of their own volition," he said.
Mr O'Sullivan declined to mention how many jobs would go, stating further details will come at Experience Co's half-year profit announcement.
It would appear the Stuart Park skydiving operations were safe from the cost-cutting, as it is part of the focus on what will now be their core operations.
"It's fundamentally really, really strong, Stuart Park and our drop zone there," he said.
"There's 30,000-odd people on average [jump] every year. It's a really core part of our company moving forward so there will be no material change to that part of the operation."
He added that Experience Co saw the scope for growth in all the company's skydiving operations, including Stuart Park.
Company founder Anthony Boucaut gave up the managing director role in September, stepping down to a non-executive board position.
Mr O'Sullivan denied the suggestion that was a demotion in the wake of the series of recently-made acquisitions that were now being sold off.
"From that point of view, [Boucaut's new position] that had nothing do to with anything," Mr O'Sullivan said.
"He wasn't moved, he actually took that decision of his own volition. A lot of founders do that when they get a business to a certain size and maturity.
"He's been very involved in the strategic review, I still take his strategic counsel.
"He's very involved in our company."
Glen Humphries
I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading.
I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading.
