CFK Childcare collapsing: How many women will lose jobs?

Another for-profit childcare corporation, CFK Childcare Centres Limited, has joined Eddy Groves’ ABC Learning in collapse.

CFK has (had?) 43 childcare centres across New South Wales. 4000 children and 500 staff join the 1200 staff and 120 000 children whose fate is up in the air after the ABC Learning collapse. WA Today reports that it is not know how many CFK centres will close – or when.

ABC Learning is in debt to the tune of $16 000 for each and every child in its care. That’s around a year’s worth of fees. Tell me there aren’t shenanigans, hm?

The government’s crisis plan for ABC centres only lasts until the end of the year. Of course, it is overwhelmingly women who will be affected by this; women are the people working in the centres, and women are the primary carers of children.

How many women will lose their jobs in the new year, while the childcare industry shakes down?



Categories: economics, gender & feminism, work and family

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1 reply

  1. I recall hearing about ABC Learning’s problems a while back, but I can’t remember where I heard it from.
    I was told the founder over-invested the company’s money in property both here and in the US. With the sub-prime collapse and subsequent financial crisis I think the bottom has just fallen out of the company’s assets. Leaving them with investments that were costing them rather than making them money. No real shenanigan’s, just poor choices at the wrong time.
    Personally I think we’re better off without these types of childcare centre, but certainly losing centres is a real problem. The government missed a great opportunity to pickup a nationalised childcare network at a bargain price. ABC should have been bought out rather than bailed out.

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