BAM Construct UK to cut up to 150 jobs
Following a slowdown in new orders as a result of the Coronavirus pandemic, BAM Construct UK is in discussions with its workforce to shed up to 150 jobs - about 6.5% of its workforce.
In a company statement, BAM Construct UK said: "...has begun a process of discussions that could lead to up to 150 redundancies, or around 6.5% of our workforce.
“We take this step reluctantly and with deep regret. Our people are what make BAM the most collaborative built environment enterprise in the UK. We will redeploy people if possible to other parts of our business or to roles within the wider group.
“If we cannot redeploy somebody and redundancy is the only option, then we will support them in the best way we can during the process and as they leave the business.
“BAM has striven to avoid making redundancies, having taken early actions to combat the effects of Covid19, with measures including furloughing almost 500 staff, making temporary pay cuts, stopping recruitment, and cancelling bonuses and all non-essential spending.
“We have continued to win profitable new business which has also reduced the scale of redundancies.
“The coronavirus however is significantly affecting demand. We are already seeing a slowdown in new orders and we anticipate this will have an impact on our 2021 revenue.
“We must therefore protect our business and future staffing levels. Further reducing costs will help us retain our strong balance sheet and good liquidity, protect remaining jobs, and remain competitive and well-placed to serve our clients.
“We are extremely grateful to all our staff who have worked tirelessly to support the business during this exceptionally challenging period, and helping us in delivering essential covid19 facilities for the NHS.”