Construction firm proposes closing parts of business
A construction firm has announced plans to close parts of its business, with around 350 jobs at risk.
Galliford Try said it has been undertaking a review of its Construction and Investments business with a view to “reshaping its operations” to become more efficient and increase profitability.
The infrastructure business unit in Scotland will potentially close as part of the proposed reorganisation.
It is understood around 350 jobs could be lost across the UK as part of the proposals announced following the review.
A Galliford Try spokeswoman said: “Today we have announced to our employees the proposals emanating from that review which will involve the proposed closure of parts of the division, with potentially some job losses involved.
“This is a regrettable but unavoidable step and we have started to consult with those individuals potentially impacted by our proposals and are doing all that we can to support them during this difficult time.
“The major part of the proposed reorganisation will potentially see the infrastructure business unit in Scotland be closed. It is a matter of record that for some time our business has sustained considerable losses on two major infrastructure projects within Scotland.
“We remain fully committed to our existing profitable building operations for Morrison Construction in Scotland, delivering much-needed public facilities together with our partners in the hub vehicles.
“As a business we are confident that the proposed structure we are looking to put in place will provide us with robust foundations and leave us better suited to face the key markets where our future success lies.”
The company was involved in the construction of the Queensferry Crossing and the Aberdeen Western Peripheral Route in Scotland.
Earlier this month, the firm issued a profit warning.
Analysts had expected £156 million for the full year, but this could now be reduced to as low as £116 million.