Oz Tycoon Sorry For Saying Job Losses a Good Thing – BBC

Tim Gurner speaking at a property summit. Photo: Australian Financial Review/BBC

An Australian tycoon, who said unemployment should be allowed to rise to remind arrogant workers of their place, has been forced to apologise after his remarks were met with a storm of protest, the BBC reported.

Tim Gurner, one of the country’s richest men who made his money as a gym owner and property mogul, had said: “We need to see pain in the economy”. He said joblessness needed to rise by 50% to reduce “arrogance in the employment market”, the report went on. That rise would have seen more than 200,000 people lose their jobs in the country and Gurner has now said he “regrets” the remarks.

Read the full story: BBC

By Sean O’Meara

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.