GALLIFORD TRY PUTS 350 CONSTRUCTION JOBS AT RISK

blog header image

Posted : 01 May 2019 at 10:37:17
Category: News

Share this article

Galliford Try is preparing to swing the axe at the construction division after telling staff yesterday that 350 jobs are at risk.

Galliford Try is counting the cost of undertaking major infrastructure projects in Scotland like the Queensferry Crossing and Aberdeen Bypass

A wave of job cuts is planned in a UK wide restructuring aimed at reducing the size of the construction business.

The Scottish infrastructure division is expected to bear the brunt of the cuts. In a statement the firm said the business was at risk of closure as it aimed to de-risk future activities.

Gallford Try revealed it was reviewing construction operations earlier this month after it was forced to warn group profits would be £30m-£40m below previous forecasts.

It blamed the profit warning on final settlement on the £1.4bn Queensferry Crossing project, which followed heavy losses on the Aberdeen Bypass. It also warned of problems with other construction contracts.

As well as streamlining construction, the review will scrutinise contract positions throughout the construction business and assess operational progress.

The outcome of the review will be reported in a trading update in mid-May.

A spokesman for the firm said: “Galliford Try has been undertaking a review of its construction and investments business with a view to reshaping its operations to become more efficient and increase profitability.

“Today we have announced to our employees the proposals emanating from that review which will involve the proposed closure of parts of the division, with potentially some job losses involved.

“The major part of the proposed reorganisation will potentially see the Infrastructure business unit in Scotland be closed. It is a matter of record that for some time our business has sustained considerable losses on two major infrastructure projects within Scotland.

“We remain fully committed to our existing profitable building operations for Morrison Construction in Scotland, delivering much-needed public facilities together with our partners in the hub vehicles.

“As a business, we are confident that the proposed structure we are looking to put in place will provide us with robust foundations and leave us better suited to face the key markets where our future success lies.”


Original source - Construction Enquirer

http://www.constructionenquirer.com/2019/04/30/galliford-try-puts-350-construction-jobs-at-risk/

LATEST SIMILAR NEWS

NHS BOSS: TAX BILLS COULD MEAN 'LOSS OF 60 DOCTORS'
Posted on: 22 Jul 2019 at 10:47:09
A major NHS trust could lose the equivalent of 60 consultants because of doctors' refusal to work overtime, its chief executive fears.Dr David Rosser, of University Hospitals Birmingham, said pension tax changes mean consultants fear extra earnings will trigger large bills.One senior doctor covered...
CROOKED CONSTRUCTION BOOKKEEPER JAILED FOR THREE YEARS
Posted on: 08 Jul 2019 at 08:22:07
A woman who together with her daughter stole £100,000 from a Cambridgeshire cladding contractor has been jailed for more than three years.Hayter will be the subject of a Proceeds of Crime Act hearing next weekNicola Hayter, of Ely, worked as a bookkeeper for construction company Retrofit UK from 200...
MAKE LATE PAYMENT AFTER AGREED TERMS IN CONSTRUCTION A CRIME & SUBJECT TO A FINE
Posted on: 25 Jun 2019 at 11:18:05
A Construction Agency called Lionheart Group and have been on the receiving end of bad/late payers on a number of occasions and have started this Petition.What are you thoughts? Do you agree or do you not? Have you been on the end of a client not paying and as a result experiencing a loss?https://pe...
TAX GAP REMAINS LOW
Posted on: 20 Jun 2019 at 14:28:22
The Tax Gap for 2017/2018 is 5.6%, HM Revenue and Customs (HMRC) confirmed today.This means that HMRC collected 94.4% of all the tax due under the law in 2017/2018. Overall, the tax gap has fallen from 7.2% since 2005/2006.The tax gap is the difference between the amount of tax that should, in theor...
BRITISH CONSTRUCTION COMPANY KIER IS SET TO CUT 1,200 JOBS
Posted on: 18 Jun 2019 at 07:59:16
British construction company Kier is set to cut 1,200 jobs and suspend its dividend for at least two years. The firm, which holds contracts with council rubbish collection and the UK's high speed rail project, is also selling its house building and property businesses, and says it wil...
CONGRATULATIONS TO THE LE MANS INTER EUROPOL COMPETITION TEAM
Posted on: 17 Jun 2019 at 09:05:43
CONGRATULATIONS to Inter Europol Competition finishing this years #LeMans #24Hours.Well done to James Winslow Racing, Kuba Smiechowski and Nigel Moore. Great Racing Boys!Proudly sponsored by Genius Money!