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Keltbray is planning to make 300 redundancies as it grapples with the “unavoidable” impact of coronavirus on the wider economy.
The cuts are likely to result in a reduction in the number
of roles in the firm’s support functions and in its built environment division,
chief executive Darren James said. There will be no impact on the infrastructure
division which continues to operate at “near normal, pre-crisis levels”.
James said: “Keltbray has acted decisively and responsibly
during the past three months to protect our people and safeguard the
business. By furloughing a third of our workforce and introducing
temporary salary reductions, we have protected jobs, while continuing to
support the national effort. However, the ongoing impacts of the virus on
the wider economy are unavoidable and we will need to go further to emerge
stronger for the future.
“Therefore, over the next few weeks we will be consulting
with UK-based employees across Keltbray on plans to create a more efficient
business as part of our ongoing response to the crisis.”
He added that making the redundancies would match the size
of Keltbray’s cost base to its predicted work volumes in its traditional
building sectors, particularly in London.
“By ensuring we run our business in a lean and efficient
way, incorporating productivity gains developed through our response to the
pandemic, including the widespread adoption of mobile working, we will continue
to provide high quality, high value services to our clients, and maintain our
financial resilience to deliver our growth strategy as the markets recover,” he