Region. 'Jobs Saving' strategy

The Australian Employee Buyout Centre (AEBC) is now operational - it has signed a funding agreement with DEEWR to establish a "Jobs Saving" strategy under the "Jobs Fund", in Western and South-Western Sydney, through intervention in businesses, where jobs are under threat as a result of business failure or closure. A formal 'business turnaround' process will be followed to preserve those jobs which can be saved and will involve transitioning the ownership of the business to its employees through an employee share ownership trust. The AEBC will shortly be employing staff and will be setting up an office in Bankstown. The AEBC's mission is "to protect, preserve and enhance jobs through employee ownership".