Home Business News Kier Group to axe 1,200 jobs in cost cutting move

Kier Group to axe 1,200 jobs in cost cutting move

by LLB Reporter
17th Jun 19 9:08 am

Kier Group said on Monday they have finished a strategic review and as part of its plans to cut costs the construction firm are to cut 1,200 jobs.

The move will help to generate cash and reduce debts, and it is expected to create £55m of annual cost savings from the 2021 financial year.

Chief executive Andrew Davies said, “These actions are focused on resetting the operational structure of Kier, simplifying the portfolio, and emphasising cash generation in order to structurally reduce debt.

“By making these changes, we will reinforce the foundations from which our core activities can flourish in the future, to the benefit of all of our stakeholders.”

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