Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Construction Of Buildings
41 - Construction of buildings

400 jobs
Number of planned job losses
Job loss
Announcement Date
12 August 2015
Employment effect (start)
1 January 2015
Foreseen end date
30 June 2015

Description

Construction group, Balfour Beatty, has made 400 staff redundant in the first half of 2015. The job losses which have occurred so far have been concentrated in back office roles such as IT, HR, Finance and Legal.

The cuts were made as part of an ongoing strategy to reduce business costs. The company is seeking to save 100 million GBP by the end of 2016, and has so far saved about one quarter of that figure. The outcome of the strategy was revealed when the company presented its half-year results.


Sources

  • 12 August 2015: Construction Enquirer

Citation

Eurofound (2015), Balfour Beatty, Internal restructuring in United Kingdom, factsheet number 84518, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84518.