BAA

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Transportation / Storage
Warehousing And Support Activities For Transportation, Postal And Courier Activities
Warehousing And Support Activities For Transportation
52.2 - Support activities for transportation
700 jobs
Number of planned job losses
Job loss
Announcement Date
1 November 2005
Employment effect (start)
Foreseen end date

Description

UK airports operator BAA has announced it is to cut 700 jobs as part of a cost-cutting drive. The group said the move would result in savings of about £45 million a year by 2008.

The news came as BAA posted a 9.6% rise in underlying operating profits to £412 million for the six months to 30 September 2005, from £376 million in 2004. The shake-up would focus on the back office and management areas.

'We want to streamline the management and admin staff of the business and get our managers closer to the business to deliver that better leadership and get the right people in the right jobs,' chief executive Mike Clasper told BBC Radio 4.

Sources

  • 1 November 2005: BBC News

Citation

Eurofound (2005), BAA, Internal restructuring in United Kingdom, factsheet number 62474, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62474.