"We can confirm that we have recently informed employees in Norwich that due to the financial pressures faced by the UK subsidiary we have proposed the closure of our physical office in Norwich and have entered into a collective redundancy consultation process."
"The company had "fought to stabilise the business but the turnaround has simply not happened fast enough" and the firm had taken the "difficult" decision to close its office. "The company is under severe financial pressure," he added."
"There were many people in tears, especially the younger female employees, who were shocked at the sudden announcement. Everyone was told they could go straight home and the chief executive opened a bar tab at Rooftop Gardens [a bar on the top floor] which had reached 3,000 by lunchtime"
Atlas SEO will close its Norwich office and enter a collective redundancy consultation following severe financial pressure on its UK subsidiary. The company was acquired by Malta-based Gentoo Media for a reported £2.71m less than two years ago and was founded in January 2020, offering digital marketing, display advertising, social media management, online reputation management and video content production. Efforts to stabilise the business did not achieve a fast enough turnaround, prompting a decision to wind down operations. More than 50 employees at the Norwich site face potential redundancy after a sudden meeting and emotional staff reactions.
Read at www.bbc.com
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